EcoCash, Zimbabwe’s largest financial technology platform, says it is stepping up efforts to increase international remittance receipts by partnering with more global payment platforms.
The mobile money service, owned by Econet Wireless Zimbabwe, already partners with leading global remittance providers such as Sasai Money Transfer, Western Union, WorldRemit, MamaMoney, MoneyGram, Remitly, Shoprite Send and Terrapay.
EcoCash currently has over 40 partners terminating into mobile wallets.
The company revealed that it is currently in talks with additional international partners as part of its long-term strategy to build a truly global payments ecosystem.
“Efforts to onboard more payment partners are ongoing as we aim to establish a global platform that prioritizes convenience, affordability and value for customers,” EcoCash said this week at the ongoing Institute of Chartered Accountants of Zimbabwe (ICAZ) Winter School 2025 and Investment Conference in the United Kingdom.
The high-profile gathering is positioning Zimbabwe as an emerging investment hub and showcasing the country’s deal pipeline, growth-ready sectors and capital opportunities. It is also connecting institutional investors, global financiers and the diaspora with pathways to channel funds into productive ventures.
The initiative by EcoCash comes at a time when remittances are increasingly playing a vital role in Zimbabwe’s economy.
According to the Reserve Bank of Zimbabwe (RBZ), diaspora remittances surpassed US$2 billion in 2024, making them one of the country’s largest and most stable sources of foreign currency.
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Analysts say EcoCash’s expanded global footprint is timely and strategic, enabling millions of Zimbabweans abroad to send money home faster, more securely, and at a lower cost. EcoCash zero-rates all remittance withdrawals – or cash-outs – from its wallets. It has an extensive distribution network of over 60 000 merchants and channel partners across the country’s rural and urban areas.
In 2024, EcoCash recorded a 21% growth in transaction volumes and a 210% surge in transaction values, driven by increased wallet funding and growing customer adoption.
The growth reflects consumer trust in the mobile money platform and the increasing importance of digital channels in cross-border money transfers.
“Beyond household support for essentials – such as food, school fees, healthcare, and housing – remittances are increasingly powering small business growth and community development projects,” EcoCash said, noting that reliable and affordable digital payment services are enabling both rural and urban recipients to transact, save and invest without relying on costly cash-based methods.
Industry experts observe that strengthening formal remittance channels curb dependence on informal networks, improves financial inclusion and enhances consumer protection.
With Zimbabwe’s diaspora spread across South Africa, the UK, the US, Australia and beyond, EcoCash’s expansion of its partner network offers more convenience and consolidates its market leadership in the mobile money space.
“As we expand, our mission remains clear – to empower Zimbabweans abroad to conveniently support their loved ones with ease, while ensuring that recipients at home enjoy safe, transparent and seamless access to funds for both their everyday needs and future investments,” EcoCash said.
Also participating at the ongoing ICAZ Winter School 2025 and Investment Conference in the UK is RemitHope – a fintech-powered social enterprise that mobilises financial support for underfunded African-led community initiatives and leverages EcoCash to channel remittances into Africa to close the funding gaps.
