Econet in massive expansion of EcoCash

Zimbabwe stock Exchange listed technology concern Econet Wireless has embarked on a massive expansion of its trendsetting mobile cash transfer system EcoCash, saying the company has been caught off-guard by demand.

In a statement released today Econet said the expansion will allow the introduction of new services in the same platform.

“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.

“….the company (has) been caught by surprise by the dramatic growth of EcoCash, and have had to scramble to order and install a much bigger system,” said the statement.

Econet added that engineers from the company’s suppliers have been in the country for several weeks upgrading all the systems and are expected to complete work by the end of September.

Econet Chief Executive Officer, Darlington Mandivenga said their clientele is no longer using the EcoCash system to simply send money to relatives in the rural areas at month-ends, but are now also using it to make all sorts of payments, including paying salaries.

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

He added that excitement in South Africa is high because EcoCash ahead of a cross border service on the same platform that will solves the problems people have had for many years when it comes to sending money home.

The cash transfer system has clocked in excess of 2 million subscribers in Zimbabwe since its inception some two years ago.

Post published in: Business

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