Zimbabwe’s second largest mobile operator, Telcel Zimbabwe, has launched its own mobile money service Telecash on 29 January.
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The main mobile money transfer in the country is currently Econet’s EcoCash, provided by Econet Zimbabwe Wireless.
Nkosinathi Ncube, mobile financial services director for Telecel Zimbabwe said:
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By GlobalData"We have focused on where people are and we have come up with a well developed and well enhanced money platform".
Telecash has been integrated on the Zimswitch platform, which connects all banks in Zimbabwe.
Upon its launch date the service will be enabled at 1,600 agents across the country, according to the company.
Tineyi Mawocha, AfrAsia Bank’s managing director said: "We can reach every member of society through Telecash.
"All the banks have been included and it is not an exclusive service".
Telecel forecasts that it will register 1.6m subscribers on Telecash by the end of June 2014, reaching 60% of its total subscriber base of 2.5m.
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