EcoCash tightens grip on mobile money market

HARARE - Econet Wireless Zimbabwe (Econet) has launched the “Chaka-Chaya neEcoCash transact and win” promotion, in a move that is likely to tighten the mobile operator’s firm grip on the mobile money market in the country.

The leading mobile telecommunications company said both their customers and the country would benefit from the promotion.

“Transacting using EcoCash will, as always, bring serious convenience to our customers and saves them all the time they would otherwise be standing in a queue somewhere, whether they want to send money to loved ones in the rural areas, pay salaries and wages, buy groceries, settle their insurance or purchase Zesa tokens,” Econet said.

“But at the same time, the use of EcoCash will tremendously help in alleviating the current cash shortages in line with the RBZ (Reserve Bank of Zimbabwe)’s call for the public and businesses to turn to electronic, cashless transactions as a way of managing the prevailing liquidity challenges,” the company added.

Under the new promotion, subscribers simply need to transact — or make a payment — using EcoCash.

“For every transaction a customer makes, they earn points which make them stand a chance to win any of the exciting prices on offer during the promotion’s monthly draws,” the company said.

The Chaka-Chaya promotion will feature three monthly draws in which customers stand to win a wide variety of prices, including  $50 000 in cash, $50 000 in Airtime,         $10 000 Zesa tokens, up to 

$100 000 in EcoSure premium cover and 15 computer tablets.

The grand draw will feature six housing stands, 50 cows, and 100 goats.

The new promotion comes days after Econet — the largest mobile operator by subscriber base of over 10 million connected customers, and by coverage and revenue market share —  entered into a partnership with the Central Africa Building Society (Cabs) which is set to create yet another significant channel for Econet and the building society’s customers to transact using EcoCash.

The partnership will, among other things, allow Cabs customers to link their accounts to the EcoCash wallet and enjoy use of the service anytime, anywhere.

EcoCash customers will leverage on the EcoCash platform’s direct integration with Cabs, which has an elaborate point of sale network across 5 500 merchants country wide.

These include the vast network of retail giants OK Zimbabwe, TM and Pick n Pay and Spar supermarkets countrywide.

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