Zimbabwe: 'Zimbabwe Mobile Money Services Bigger Than M-Pesa'

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, 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.

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