Chronicle Editor
Senior Business Writer
ECONET Wireless Zimbabwe, the country’s leading mobile network operator, reported steady growth in its mobile money business for the third quarter ending 30 November 2024, fuelled by a 55 per cent rise in active subscribers and a 79 percent increase in wallet funding.
In the latest trading update, Econet attributed the growth in mobile money volumes and transactions to ongoing improvements in financial inclusion.
“This business continues to actively on-board more payment partners in alignment with the strategy to establish a universal payment platform that prioritises convenience and value for customers.
“The growth in mobile money volumes and transactions reflects the gains we continue to make towards improved financial inclusion,” said Mr Tatenda Ngowe, Group Company Secretary for Econet Wireless Zimbabwe.
Turning to the life insurance business, EcoSure recorded a 51 percent growth in transaction volumes compared to the same period last year, as it continues to offer digital bundled products for a wider customer reach.
Moovah, the short-term insurance business, continued to grow its portfolio, driven largely by new business acquisitions and endorsements, which translated to a 25 percent increase in motor and non-motor insurance customers.
Online Reporter