Telecel targets 60% subscribers on Telecash

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TELECEL Zimbabwe is set to register over 60% of its subscribers on Telecash mobile money platform in the first six months of this year, a company official has said.

Tarisai Mandizha,Business Reporter

Telecash is direct competition to EcoCash, a mobile money transfer service launched by Econet two years ago. EcoCash subscribers are over three million.

Speaking at the official launch of Telecash mobile money in Harare, Telecel chief executive officer Ashraf El Guindy said
Telecel had recruited 1 600 agents around Zimbabwe for subscribers to be able to deposit money in their electronic wallet or withdraw money from it.

“Our plan is basically to register over 60% of our clients in the first six months, which is close to 1, 6 million subscribers,” he said.

He said Telecel currently had a network coverage of 85% around Zimbabwe and 35% was covered by Econet.

Speaking at the same event Telecel mobile financial services director Nkosinathi Ncube said: “We are taking advantage of infrastructure that is already there, which means utilising existing supermarkets, service stations, post offices and other outlets as agents or merchants.”

Ncube said the spending limit for Telecash transactions is $500 per transaction and $1 000 per day. The transaction limit per month is $5 000. He, however, said Telecash subscribers could also transfer money into any bank account held at a bank that is a member of ZimSwitch utilising the Zimswitch Instant Payment Interchange Technology (ZIPIT) facility.

“Telecash offers convenience for everyone, but in particular offers banking services to people with no previous access to banking and financial services, especially those in the country’s remote areas,” Ncube said.

18 COMMENTS

  1. Telecel, you seem to have lots of promotions especially for those buying your new lines, and nothing free for us existing subscribers who probably made you to be where you are. Mega bonus was good we appreciate but there seems to be nothing for loyalty.

  2. @me u can send across all network @ Telecash thats such a good move.AND MOISAWO MA TARRIFS ARI REASONABLE KWETE ZVE ECOCASH ZVEKUBA MARI MARI DZEDU

  3. the target will be difficult to reach since,your lines, are bought mostly by teenagers who don’t need telecash,bt only want to enjoy your benefits

  4. Good for the consumer. Competition is beneficial. Netone should join the fray, though I fear, it is way too antiquated to offer anything useful to consumers.

  5. HOW SAFE WILL PEOPLES MONEY BE,CAUSE U HAD PROBLEMS PAYING FOR YOUR LICENCE REZINESI RAMAFONI,MAOKO ENYU HAAZOPINDA MUMARI DZEVARIDZI ZVAMUNOTI MAKAITWA NEMET BANK,SORRY GIVE REASON TO TRUST NEMI NDINONGO FONA CHETE.

  6. Zvakanaka kuti muunze chirongwa chakadari , kana ma tarrifs enyu akava akaderera , advantage , asi handibvumirani nenyaya yekuti , telecel 85% coverage , econet 35% , inga munoturika ma receivers enyu pama booster e econet wani…

  7. yu will see econet reducing ma charges ayo this company as as market leader is abusing its customers thus not fair at all

  8. telecash charges are actually higher . I just checked on their facebook page. E.g for the range of transaction of 75-100 they are charging 6 dollars whilst their rival is charging 5dollars 2 paid by sender and 3 by receiver. Econet is cheaper all the way. Correct me if i am wrong to those who have seen the tariffis. All the same, thanks for bringing competition. You only risk not making it because of your charges

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