Many Zimbabweans have been stranded over an upgrade gone wrong on the country’s biggest mobile money services, Ecocash.
Ecocash system upgrade which began a few months ago was meant to be completed on the 17th of November 2019. The upgrade did not go as predetermined because the platform continued to fluctuate afterwards.
Ecocash is the mobile money unit of Econet Wireless in Zimbabwe. The fintech processes nearly seven million transactions yearly and has about half of Zimbabwe’s 14 million populace using its services.
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Hence the reason why a downgrade of its system has affected businesses in the country. This is coupled with the heavy reliance on mobile money for transactions in the country.
Eddie Chibi the Chief Executive Officer of Cassava Smartech, a company that also runs Ecocash stated that works are currently ongoing to optimize the components of the platform. These components will enable third-party integration and bring the platform alive.
The prolonged instability has made many Zimbabweans go back to automated teller machine points for transactions.
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