Despite its mass adoption across the country where it has outpaced formal banking services, mobile money has only been mentioned as one alternative and not as the leading solution that it is primed to be.
According to the RBZ, in 2015, monetary transactions totaled $57 billion and mobile payments accounted for 87.9% of these transactions in terms of volumes.
There is a slowed growth in Mobile Money according to the RBZ’s Mid Term Monetary Policy Statement. This is probably a result of the turbulence in both the banking and telecoms sectors.
The Mobile Money and Digital Payments Conference, an awards ceremony that seeks to recognise and honour outstanding performance and innovation in mobile money and digital payments will be held on the 27th of July in Harare
Goodrich Analytix Ltd has brought in a solution that offers credit rating to the wider players in the economy. This system provides intelligence for risk management at a national scale by monitoring credit scores of individuals and companies through electronic records. When used extensively, it will help weed out potential credit defaulters.
CBZ Bank, Zimbabwe’s largest bank, has become the first bank in the country to get a direct connection to the EcoCash service from Econet Wireless. Customers of the bank who have an EcoCash ‘eWallet’ can put money into the account using their cell phones. They can also take money from their eWallets and deposit it…