NEW: Econet to absorb its financial technology businesses

Online Reporter

ECONET Wireless Zimbabwe is set to absorb all its financial technology (fintech) businesses, which include EcoCash (Private) Limited, VAYA Technologies Zimbabwe (Private) Limited, Econet Insurance (Private) Limited, Econet Life (Private) Limited, MARS Zimbabwe (Private) Limited and Maisha Health Fund (Private) Limited.

The group said EcoCash shares will be exchanged for Econet shares that may be proportionally distributed to the former’s shareholders.

“Accordingly, shareholders are advised to continue exercising caution when dealing in the company’s securities until a full announcement is made,” said EcoCash in a statement on Tuesday.