Econet Wireless is expanding its mobile money operation, EcoCash, with a multi-million dollar investment because of rapid growth on the platform.
The Zimbabwean network operator has said the investment will increase EcoCash’s capacity by four times and allow it to launch more services.
Darlington Mandivenga, chief executive officer (CEO) of Econet Services, said the upgrade was required in order to avoid experiencing heavy congestion as more users took advantage of the service to pay salaries as well as transfer money to relatives or friends in rural areas.
Zimbabweans in South Africa are also now increasingly able to utilise its EcoCash in some parts of the country and Mandivenga said the number of active agents will grow once the network upgrade is completed.
“If we open up the service completely, we will have complete congestion. We have to wait two or three weeks,” said Mandivenga.