EcoCash maintains market leadership amid rising competition

Despite the advent of new financial technology (fintech) players in Zimbabwe’s digital payments space, market watchers say EcoCash remains the market leader in size, transaction volume and the number of services it offers.

The country’s fintech sector has seen a significant increase in new players such as Omari, Innbucks, Mojo Mula and Mukuru in the mobile money business, which had previously been made up of EcoCash, NetOne’s OneMoney and Telecel’s TeleCash.

However, EcoCash — owned by Econet Wireless Zimbabwe — remains the market leader because of its extensive service portfolio, its established presence, owing to its early market entry in 2011,  and its deep integration into the socio and economic lives of Zimbabweans.

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