Telecel Zimbabwe chairman, James Makamba, spoke about his company’s new mobile money product last week on CNBC Africa’s Closing Bell show referring to Telecash as having had a great launch and great reception by the market so far. he didn’t share any figures though, something we expected him to do. Makamba admitted though that as [...]
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James Makamba on Telecash so far: great launch and great reception
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Astro Mobi store delayed: denied access to EcoCash and Telecash API
Astro’s plans to launch local a content app store have been delayed because the company failed to secure APIs to integrate with EcoCash and Telecash for payments. Astro had planned to unveil the “Astro Mobi Store” during the recently held e-Tech Africa Expo. Astro had fliers printed for the expo advertising the Astro Mobi store [...]
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Techzim Podcast: Talking about getting social #GetSocial
So we thought we’d do a podcast specially focused on the #GetSocial event. In this Techzim Podcast we provide more information, answer some questions about what to expect there, the content, the amazing line up of speakers, the powerful networking to expect! If you haven’t bought your ticket already, early bird is ending today, so [...]
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Dr John Mangudya at RBZ: What Does it Mean For EcoCash & Mobile Money?
If you were waiting, the wait is finally over, former CBZ chief and Economist Dr Mangudya will be the new substantive Governor of The Reserve Bank of Zimbabwe. This comes at a time when the government is making deliberate efforts to re-position the Reserve Bank as the engine of Zimbabwe’s economic recovery. The Herald reports [...]
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9 sure fire ways to kick start your brand to #GetSocial
Yes, it finally has been preached enough and you are part of the converted. Social media is a necessity if you are serious about getting your brand recognised at a marginally lower cost than traditional media. The powers that be have given you the nod and now it is left for you to get things [...]
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Of the EcoCash Android App and the elusive API
I am excited and disappointed at the news that EcoCash has finally released the EcoCash app. Excited because it was long overdue and this could be the much developer touted API. Much to my disappointed is the calibre of application they chose to release. The application is a simple UI onto which you capture all [...]
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EcoCash still wants 5 new customers daily from Agents? Agents Association responds
The Mobile Money Transfer Agents Association of Zimbabwe (MMTAAZ) has issued a press statement in response to a requirement from Econet that EcoCash agents should sign up 5 new customers daily, as per contract agreement. Econet is said to have reminded EcoCash agents about this requirement via sms. The alleged SMS reminder from Econet read: [...]
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Bitcoin slipping further; FB, Occullus & virtual reality; Xiaomi ambition… Global
Bitcoin slipping even further as China and US Taxman happen So, Bitcoin is having a tough time regulatory wise in China. Apparently China wont have any bank handling Bitcoin Exchange bank accounts and has given them until April 15 to close them. On the other side of the world, the US authorities have basically induced [...]
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EcoCashLoans now available to EcoCashSave customers with zero interest
Econet Services has officially launched a new product called EcoCashLoans, an extension of EcoCashSave at an event held at Holiday Inn in Harare this morning. EcoCashLoans, just like EcoCashSave will be administered by Steward Bank. EcoCashLoans is a service that allows EcoCashSave customers to borrow amounts from $5 to $500. Initially, the EcoCashLoans tenure will [...]
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EcoCashLoans – Game changer? Opportunity or Threat? For who?
With the launch today of EcoCash Loans, following in quick succession from EcoCashSave accounts, Econet wireless has yet again read from the M-Pesa script to be the dominant financial services provider in Zimbabwe. EcoCash is a bank, with the largest number of customers at 3.5M registered users. Having shaken up the financial services market with [...]
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Why are these mobile money fraudsters difficult to catch?
In an advice article published in the Sunday Mail today (read it so you don’t fall prey), the police warned readers that fraudsters in Zimbabwe are now using mobile money services like EcoCash, Telecash, OneWallet and others, to conveniently take money from victims. A common trick, says the article, is one targeted at job seekers who [...]
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OneWallet now pays ZESA prepaid electricity credit, so does CBZ & ZB Bank
NetOne’s OneWallet customers will now be able to buy ZESA prepaid electricity credit via OneWallet mobile money solution. In a press statement, NetOne said the integration is part of a deal between NetOne and the Zimbabwe Electricity Transmission Distribution Corporation (ZETDC). Both are state owned enterprises. We are not certain how many customers are on [...]
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EcoCash boasts of having handled transactions worth over $4 billion to date
Econet Wireless Zimbabwe says that its mobile money transfer service, EcoCash, has handled transactions in excess of $4 billion since the service was introduce in 2011.This was highlighted by Econet’s group CEO Douglas Mboweni to parliamentarians at a familiarisation tour of the company yesterday. This impressive figure was achieved though 170 million transactions handled [...]
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Facebook reported to be venturing into money transfer services
Facebook is reportedly planning to venture into financial services by providing a facility for its users in select countries to store money, transfer funds and make online payments. A report from The Financial Times explains how the social network is on the verge of securing regulatory clearance in Ireland to become an “e-money” institution that [...]
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EcoCash’s competition isn’t Telecash, OneWallet or banks. It’s the internet & apps
Econet Wireless is one of a few telecommunications companies on the continent that has realized that the old telecoms model of charging for voice and SMSs – based on operating physical network infrastructure – belongs to yesterday. Yes, the business is current in many ways and revenues are still somewhat healthy, but the future belongs [...]
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Econet says it won’t back down on its demands to banks
Econet Wireless has pronounced a firm refusal to back down on it’s demand on banks to pay a tariff of 30 cents to gain access to its transaction messaging system. This is according to a report in The Herald that quotes Econet Chief Executive Douglas Mboweni reaffirming this stance. According to the article, Mboweni insists [...]
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A bit more information on EcoCashLoans in case you’re still in the dark
A few weeks after the EcoCashLoans launch, a lot of people still have some questions on how the service really works. On their part, both Econet Services and Steward Bank have surprisingly done relatively very little to publicise their new product and hence a lot has been left to speculation and trial and error. We [...]
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How mobile micro-credit loan schemes can devastate our economy – Part 1
A lot has been said here at Techzim and other places about Econet’s foray into mobile micro-finance. As is the custom with anything that Econet Wireless does these days, there has been some suspicion and general skepticism about what EcoCashLoans means for Zimbabwe, some of it has been unjustified. For that reason, I feel that [...]
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Econet’s partnership with WorldRemit a smart way to stay in money remittance?
The money transfer and remittance services industry is a big deal and it’s something we understand here in Africa because of the huge monetary inflows from the diaspora. At an annual figure of $64 billion for recorded inflows (this excludes well established informal channels) this industry has attracted a lot of investor attention. On the [...]
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Econet to integrate systems with Western Union
A report in the Herald has stated that a commercial agreement has been reached between money transfer services Western Union and Econet Wireless which will allow people to send money from abroad straight into EcoCash wallets. Under this new arrangement there will be no need to visit a Western Union branch as the money sent [...]
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