OK partners EcoCash

HARARE - Zimbabwe Stock Exchange-listed retailer OK Zimbabwe Limited (OK) has partnered EcoCash, Econet Wireless’ mobile money service.

This comes after the supermarket chain — once involved in in-store banking — recently ventured into financial services after acquiring a money transfer licence.

Darlington Mandivenga, Econet Services chief executive, said the rationale behind the partnership is to increase accessibility of EcoCash to as many people as possible.

OK has assumed an EcoCash “Super-Agent” status, and will be performing agent services for EcoCash throughout its branches across the country.

Under the partnership, every OK outlet will register customers for EcoCash and also perform cashing in and cashing out functions for EcoCash.

“As the largest retail chain with 54 outlets, OK has significant traffic in their stores, and we therefore, saw the opportunity to provide EcoCash services in their branch network to cater for these customers,” said Mandivenga.

Mandivenga said this was the first phase of the partnership.
 
“The natural development is to see OK operating as a merchant for EcoCash, which will enable customers shopping in OK to make payments using EcoCash,” he said.

Albert Katsande, OK’s chief operating officer, said the deal with EcoCash was in line with their move into the financial services sector.

More importantly, the partnership will attract some of the over two million EcoCash customers to OK branches.

“Naturally, the customers will find it more convenient to shop in our stores,” Katsande said.

He added that the agent services will also improve their products portfolio.

Douglas Mboweni, Econet Wireless Zimbabwe chief executive, said the move is in line with the company’s strategy to attract more EcoCash users.

“We want to partner with as many players as is possible for the benefit of our customers”, he said. - Business Writer

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