adminIn a statement, the company said a research revealed that it is the second fastest growing mobile money transfer in the region after Mpesa in Kenya.
In Kenya there are around eight million money transfer users while in Zimbabwe, EcoCash has increased by 700 000 users since 2011.
Studies have revealed that by 2015 the value of mobile money transfer will reach over $200 billion, almost 8 percent of Africa’s GDP.
EcoCash’s nearest competitor in the country is NetOne’s OneWallet which has experienced slow growth since the company required subscribers to swap in their mobile SIM cards for one with higher memory capacity.
Econet said it had managed to overcome capacity constraints which had resulted in the shortage of its lines on the market.
EcoCash is celebrating its first anniversary as a mobile money transfer and has launched a competition where lucky subscribers will win varying amounts of cash with a grand prize of $100 000 to be won in January.
Online Reporter