News / National
EcoCash launches 'EcoCash Plus' wallet
10 hrs ago | Views
EcoCash, Zimbabwe's leading mobile money platform, has unveiled EcoCash Plus - a specialised digital wallet designed to meet the unique needs of small and medium enterprises (SMEs), vendors, and service providers that collectively power over 60% of the country's economy.
Launched this week, EcoCash Plus is aimed at micro, small, and medium-sized enterprises (MSMEs) that often operate outside the formal banking system. The new product allows users to transact, pay bills, manage payroll, access business records, and more - all from a mobile phone.
"Small businesses are not just surviving – they're driving our economy. EcoCash Plus is set to make their everyday hustle easier, safer and more connected to opportunities," said EcoCash in a statement announcing the product.
Zimbabwe's informal sector is a key contributor to national GDP, yet the majority of its players operate on a cash-only basis, limiting their growth, access to finance, and exposing them to risks such as theft and financial exclusion.
According to EcoCash, EcoCash Plus is designed to bridge this gap by providing a seamless digital solution. "With this wallet, business owners can receive payments, buy ZESA tokens and airtime, pay council bills and suppliers, send money to employees, and track transactions through digital statements," the company said.
The platform is also expected to open new opportunities for informal traders by enabling them to interface with large corporations. "SMEs can now order stock directly from big corporates using EcoCash Plus," the company added.
The digital wallet targets a wide array of businesses, including tuckshops, boutiques, hardware stores, agro-dealers, motor spares shops, electronics retailers, and craft vendors. It also supports service providers such as salons, tailors, repair technicians, cleaners, print shops, and photographers.
Financial analysts have welcomed the development, saying the platform could be a game changer for the informal economy. "The challenge in the informal sector isn't a lack of business activity – it's a lack of data," said a Harare-based economist. "EcoCash Plus creates a financial trail that builds credibility and unlocks access to credit and capital."
With government policies increasingly focused on formalising informal business and promoting financial inclusion, the launch of EcoCash Plus comes at a critical time.
"We're offering a wallet and building infrastructure for long-term growth, trust, and financial inclusion," said EcoCash.
Registration for EcoCash Plus is done via WhatsApp by messaging 0777 222 152. Applicants are guided through a short sign-up process that requires a valid national ID, proof of residence, and a trading license, among other documents.
Launched this week, EcoCash Plus is aimed at micro, small, and medium-sized enterprises (MSMEs) that often operate outside the formal banking system. The new product allows users to transact, pay bills, manage payroll, access business records, and more - all from a mobile phone.
"Small businesses are not just surviving – they're driving our economy. EcoCash Plus is set to make their everyday hustle easier, safer and more connected to opportunities," said EcoCash in a statement announcing the product.
Zimbabwe's informal sector is a key contributor to national GDP, yet the majority of its players operate on a cash-only basis, limiting their growth, access to finance, and exposing them to risks such as theft and financial exclusion.
According to EcoCash, EcoCash Plus is designed to bridge this gap by providing a seamless digital solution. "With this wallet, business owners can receive payments, buy ZESA tokens and airtime, pay council bills and suppliers, send money to employees, and track transactions through digital statements," the company said.
The platform is also expected to open new opportunities for informal traders by enabling them to interface with large corporations. "SMEs can now order stock directly from big corporates using EcoCash Plus," the company added.
The digital wallet targets a wide array of businesses, including tuckshops, boutiques, hardware stores, agro-dealers, motor spares shops, electronics retailers, and craft vendors. It also supports service providers such as salons, tailors, repair technicians, cleaners, print shops, and photographers.
Financial analysts have welcomed the development, saying the platform could be a game changer for the informal economy. "The challenge in the informal sector isn't a lack of business activity – it's a lack of data," said a Harare-based economist. "EcoCash Plus creates a financial trail that builds credibility and unlocks access to credit and capital."
With government policies increasingly focused on formalising informal business and promoting financial inclusion, the launch of EcoCash Plus comes at a critical time.
"We're offering a wallet and building infrastructure for long-term growth, trust, and financial inclusion," said EcoCash.
Registration for EcoCash Plus is done via WhatsApp by messaging 0777 222 152. Applicants are guided through a short sign-up process that requires a valid national ID, proof of residence, and a trading license, among other documents.
Source - The Herald
