Econet Expands Mobile Money Platform


darlington-mandivengaTelecommunicatins group Econet Wireless is undertaking a multi-million dollar expansion of its mobile money service, EcoCash, following a dramatic and unexpected growth since its launch in September 2012.

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The expansion will make the EcoCash system four times bigger than it is currently, and also pave the way for the company to launch additional services.

Surprised by the dramatic growth of EcoCash, the South African-based group has had to scramble to order and install a much bigger system, with engineers from the company’s suppliers currently camping in Zimbabwe to upgrade all the systems.

The upgrade and expansion is expected to be completed by the end of September.

Econets services CEO, Mr Darlington Mandivenga, explained that the upgrade was necessary, as it the systems would have suffered from high congestion if it is completely opened at present.

“If we open up the service completely, we will have complete congestion. We have to wait two or three weeks,” said Mr Mandivenga.

He added that the platform had grown tremendously from a simple money transfer medium to a diverse payment system, as customer now make several payment transactions including the payment of salaries through the mobile system.

Econet Wireless – a privately held group – is a diversified telecommunications company with operations and investments in Africa, Europe, South America and the East Asia Pacific Rim.

It offers products and services in the core areas of mobile and fixed telephony services, broadband, satellite and fibre optic networks.


Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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