Online Reporter
Business Reporter
EcoCash mobile money platform, a unit of listed telecommunications and technology company Econet Wireless Zimbabwe Limited, is not changing its name.
Rather, it is the mobile money company’s former holding company — EcoCash Holdings Zimbabwe Limited, which now controls Steward Bank — that announced plans to rebrand to TN CyberTech Investments Holdings Limited, subject to shareholder approval.
The announcement follows TN Holdings Limited’s recent acquisition of a controlling stake in Steward Bank, the sole banking asset of EcoCash Holdings Zimbabwe Limited, after Econet Wireless Zimbabwe Limited bought back the EcoCash mobile money business from EcoCash Holdings Zimbabwe in a transaction that began early last year.
In a recent notice to shareholders, EcoCash Holdings Zimbabwe said it would convene an extraordinary general meeting (EGM) on Friday June 13, 2025 to seek approval for the name change from its shareholders.
The proposed new name, TN CyberTech Investments Holdings Limited, is intended to reflect both the controlling shareholder’s identity and the company’s future strategic focus.
The rebranding comes after Econet Wireless Zimbabwe acquired several fintech businesses from EcoCash Holdings Zimbabwe early last year. These include EcoCash (Pvt) Ltd, VAYA Technologies, Econet Insurance, Econet Life, MARS Zimbabwe and Maisha Health Fund.
However, Steward Bank remained a subsidiary of EcoCash Holdings Zimbabwe Limited.
“Additionally, the continued use of the name EcoCash Holdings will confuse the public, as the same name is being used by the mobile money platform, EcoCash (Pvt) Ltd, which is now an Econet Wireless Zimbabwe Limited subsidiary.
“As such, the board believes that the change of company name is in the best interests of the company and of all shareholders,” EcoCash Holdings Zimbabwe said in the circular.
Online Reporter