Econet - TN Bank deal nears completion
BUSINESS
By BiztechAfrica - April 2, 2012, 4:07 p.m.
Econet Wireless’s acquisition of a 49% stake in TN Bank is nearing completion.
TN Holdings CEO Tawanda Nyambirai, says the acquisition inject USD20 million into TN Bank and bring aboard a large subscriber base.
The acquisition is reported to be in line with plans to broaden the EcoCash product, which Econet Wireless launched in partnership with the bank.
EcoCash mobile money allows users to send and receive money, buy airtime and make other payments using their mobile phones.
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