Econet to launch mobile money
BUSINESS| Sept. 8, 2011, 3:08 p.m.
By Alfonce Mbizwo, Harare, Zimbabwe
Zimbabwe’s largest mobile operator, Econet Wireless, will at end of the month launch a mobile payment system that makes it possible for Zimbabweans to pay bills using their cellphones.
The company said it had spent millions of dollars on developing the system, which will be launched to its over 5 million customers, completely eliminating the need for any notes for purchases below USD20.
Econet has been working for more than a year on developing the system, which will basically turn a cell phone into a ‘wallet’. But the system only work between Econet subscribers.
“With a critical shortage of US dollar notes, the Econet system will completely eliminate the need for any notes for purchases below USD20,” the company spokesman, Ranga Mberi, said in a statement.
Earler, state-owned mobile operator NetOne and Orascom’s Zimbabwean unit, Telecel, launched similar programmes called OneWallet and Skwama respectively.
But Mberi said the key difference was Econet’s size and capacity, adding that the company had entered into partnership with key retailers, banks, and dealers nationwide.
“It is a massive system, and will completely transform the way Zimbabweans buy and sell goods,” he said.
Econet is expected to announce, also at the end of the month, that it has crossed 6 million customers, which means that almost half the population has an Econet line, giving leverage to its new service because of economies of scale.
“Construction of the whole system is now complete and the company is now ready to go,” said Mberi.
“It is currently being tested with key customers on a pilot phase, and will go live to over 5 million Econet customers by the end of this month.”
MORE BUSINESS NEWS
Airtel divests telecoms tower assets in DRC to Helios Towers AfricaBharti Airtel International and Helios Towers Africa have announced an agreement for the divestment of approximately 950 telecoms towers in the DRC from Airtel to Helois Towers Africa. Read More
Networks Unlimited opens head office for Africa in MauritiusNetworks Unlimited has opened a head office servicing its African business in Mauritius. Read More
Orange completes Tigo acquisition in DRCLess than three months after signing an agreement with Millicom, Orange has completed the acquisition of 100% of the mobile operator Tigo in the Democratic Republic of the Congo (DRC). Read More
New cloud platform offers SMEs greater convenienceMTN Business has unveiled a new cloud delivery platform in Rwanda and Cameroon, which will enable SMEs to access cloud services with greater ease. Read More
Travelport appoints new regional manager for East African headquartersNita Nagi, formerly of Kenya Airways, has been named as the new lead for Kenya, Uganda, Rwanda and Burundi. Read More
Orange completes the acquisition of the Liberian mobile operator CellcomLiberia will now become the 20th country in Africa and the Middle East to join the Orange group with the acquisition by Orange of Cellcom, Liberia’s leading mobile operator. Read More
Orange invests in African e-commerce leader Africa Internet GroupOrange has announced the acquisition of a 75 million-euro equity interest in Africa Internet Group. Read More
HR departments need to keep pace with technology’s accelerating speedThe world of human resources (HR) is changing at a speed that is leaving most HR departments behind. New technology is bringing more transparency into the job market and into the performance of the HR department, creating new challenges for HR directors. Read More
Survey provides glimpse into the world of young entrepreneurs in AfricaThe Anzisha Prize, the premier award for Africa’s best young entrepreneurs, published the Anzisha Youth Entrepreneurship Survey 2016 this month, which provides a snapshot of the realities facing young entrepreneurs in Africa. Read More
FEATURED STORYCriticism over Remita borne out of ignorance, says SystemSpecs
The CEO of SystemSpecs, the company behind the revenue-saving Nigerian Single Treasury Account (TSA) system, speaks to Biztechafrica.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.