Zim mo­bile money big­ger than M-PESA:

The Herald (Zimbabwe) - - Business -

CAPE TOWN. — ZIM­BABWE’S mo­bile money plat­forms are fore­casted to sur­pass the im­pact of the glob­ally-renowned M-PESA launched in East Africa a decade ago.

The lofty pro­jec­tions by Supa Mandi­wanzira, the South­ern African coun­try’s Min­is­ter for In­for­ma­tion, Com­mu­ni­ca­tion and Tech­nol­ogy and Courier Ser­vices, fol­low the sig­nif­i­cant growth of EcoCash by Econet Wire­less since 2011 and the re­cent launch of the OneMoney ser­vice by NetOne.

Speak­ing in Cape Town, South Africa at the just-con­cluded AfricaCom, Min­is­ter Mandi­wanzira de­scribed EcoCash as “big if not bet­ter than M-PESA.”

He pointed out that in 2016 mo­bile money pay­ments in Zim­babwe ac­counted for 81,2 per­cent of all elec­tronic pay­ment trans­ac­tions main­tain­ing the dom­i­nance mo­bile money ser­vices in trans­ac­tion vol­umes.

Dur­ing the year 298,59 mil­lion mo­bile money trans­ac­tions were han­dled, up from the 228,2 mil­lion trans­ac­tions the pre­vi­ous year.

Most trans­ac­tions were done via EcoCash.

Kenyans made a to­tal of 1,52 bil­lion mo­bile money trans­ac­tions last year, a decade into the launch of M-PESA, the ser­vice launched in 2007 by Voda­fone for Sa­fari­com and Vo­da­com, the largest mo­bile net­work op­er­a­tors in Kenya and Tan­za­nia.

The growth of mo­bile money in Zim­babwe is in part at­trib­uted to cash short­ages as the coun­try bat­tles eco­nomic prob­lems.

Mean­while, Min­is­ter Mandi­wanzira hailed the in­tro­duc­tion of OneMoney last week, say­ing it would en­hance com­pe­ti­tion in the mo­bile money space.

It will com­pete with EcoCash and TeleCash, by the third mo­bile op­er­a­tor, Tele­cel.

“We hope to see more con­ve­nient and com­pet­i­tive trans­ac­tions with more play­ers com­ing into the sec­tor,” the min­is­ter said.

Over­all, Min­is­ter Mandi­wanzira de­scribed the telecom­mu­ni­ca­tions sec­tor in Zim­babwe as vi­brant but po­lit­i­cal prob­lems, as por­trayed in the me­dia, were over­shad­ow­ing strides made.

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.