tawandamusarurwa
Online Reporter
EcoCash Holdings Zimbabwe says its digital banking division posted a 56 percent growth in active foreign currency accounts (FCAs) during the first quarter of the year, while VISA card volumes improved by 59 percent.
The financial technology services provider also witnessed a steady growth in the use of the United States Dollar (USD) wallet on the mobile money platform, as there was an eight-fold increase in transaction values.
In a trading update to May 2023, EcoCash Holdings group company secretary Mrs Charmaine Daniels said: “The bank has witnessed measurable gains in FCA product portfolio consistent with market changes.
“There were notable gains in active FCA accounts, which grew by 56 percent compared to the same quarter in the prior year. VISA card volumes have also seen improvement by 59 percent.”
The company, however, indicated that the EcoCash local currency wallet continues to support Government efforts to promote transactions.
Bongani Ndlovu
Online Reporter