Zim back online after High Court ruling

Shutdown illegal
says Zim court

Internet mostly restored
after High Court ruling.

Thursday, Jan 24th

More Zimbabwe companies paying salaries using mobile money

More Zimbabwe companies paying salaries using mobile money.

A ‘cash crunch’ in Zimbabwe is forcing more local companies to turn to mobile money to pay workers’ salaries.

This is according to officials at Econet who say that use of their ‘EcoCash Payroll’ service has risen 82% amid “liquidity problems” facing banks in the country.

Econet Services chief executive officer, Darlington Mandivenga, said last week that EcoCash user numbers had now surged to 3.5 million.

However, competition in the mobile money space in Zimbabwe is expected to also heat-up following the launch of Telecash by Telecel Zimbabwe last week.

Mandivenga said on Monday that EcoCash Payroll guaranteed receipt of salary payments by employees.

In the meantime, Zimbabwe’s central bank has warned struggling local financial institutions to merge or urgently shore-up their capital bases.

"Last month (January 2014) we saw an 82% increase in the number of companies using EcoCash Payroll. People who are paid first by EcoCash Payroll are guaranteed access to their money,” Mandivenga said.

“If they then want to move some of it to a bank, it is up to them, but it is important that people know they can get their money. We guarantee that you will get access to your money," added Mandivenga.

ALSO ON ITWEB AFRICA

#RiversideAttack: Kenya deals with info fallout Published on 16 January 2019

Tech-savvy terror groups are using social media to spread their agenda, according to market researchers.

Mnangagwa's crackdown on connectivity continues Published on 17 January 2019

Internet restored but WhatsApp, Twitter still down in Zimbabwe as protests enter day four.

FinTech, 5G key to continued FDI in Africa Published on 14 January 2019

These markets are expected to generate more investment in an otherwise slower year expected for the continent, say analysts.

Heightened risk will characterise 2019: business resilience will be key Published on 15 January 2019

One of the most important trends to emerge in recent years is that it is increasingly difficult to identify individual risks in isolation, says Michael Davies, CEO, ContinuitySA.