EcoCash Holdings to invest in banking technologies

ECOCASH Holdings Zimbabwe Limited (EcoCash) will invest in technologies to grow its banking unit, Steward Bank, after losing its fintech firms to sister firm, Econet Wireless Zimbabwe.

At an extraordinary general meeting held on April 17, EcoCash shareholders approved a proposed scheme of reconstruction which transferred the six fintech firms to Econet leaving the group with Steward Bank.

Prior to the reconstruction, EcoCash had a market capitalisation of ZWG1,42 billion on the Zimbabwe Stock Exchange which has since dropped to ZWG718,07 million post reconstruction.

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