Published: 14 May 2014

Financial analysts have predicted that Econet Wireless Zimbabwe's mobile money transfer service EcoCash will contribute a weighty 7 percent to revenue.

IH Securities predicted that EcoCash has potential to bring low cost financial solutions to Zimbabweans either excluded or priced out of the formal banking system.

The securities company has forecast Econet's revenue to jump 4.6% in 2015 to $787 million on the back of significant projected growth in Ecocash' revenue.

Already, Ecocash has demonstrated its potential to leverage growth in top-line after its revenue contribution in the year to February came in 10 percent ahead of IH Securities' expectation, at $33.4 million, which was 5% of the $753 million 2014 top-line.

The agency network of EcoCash continues to expand, currently at 10 000 agents across the country.

Econet has also opened a total of 1 million EcoCashSave accounts, testimony of the platform's capacity to facilitate transactions and also mobilise funds.
- The Herald

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