EcoCash implementing scheme of reconstruction following shareholder approval

Following shareholder approval of the transfer of EcoCash Holdings Zimbabwe Limited (EHZL)’s fintech businesses to Econet Wireless Zimbabwe Limited (EWZL), management has extended voluntary and mutual separation offers to staff in EcoCash Holdings Zimbabwe Limited. 

The move follows a Scheme of Reconstruction which was first announced by EWZL and EHZL at the beginning of the year and obtained EcoCash Holdings shareholder approval at an EGM held on April 17, 2024.

Among the reasons cited for the Scheme of Reconstruction was the need for the consolidated business to streamline several duplicated roles and activities, to enhance synergies and preserve shareholder value.

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