Business
EcoCash Expands Global Partnerships to Boost International Remittances
EcoCash, Zimbabwe’s leading financial technology platform, is ramping up its efforts to grow international remittance inflows by establishing new partnerships with global payment service providers.
Owned by Econet Wireless Zimbabwe, the mobile money service already collaborates with major international remittance brands, including Sasai Money Transfer, Western Union, WorldRemit, MamaMoney, MoneyGram, Remitly, Shoprite Send, and Terrapay.
With over 40 partners currently integrated into its mobile wallet system, EcoCash has confirmed that it is actively engaging with additional global players. The move is part of a broader vision to build a comprehensive international payments network.
“Our focus remains on adding more partners to create a global platform that delivers value, affordability, and convenience for our users,” the company stated during the Institute of Chartered Accountants of Zimbabwe (ICAZ) Winter School 2025 and Investment Conference held in the UK.
The event highlighted Zimbabwe’s investment potential, showcasing its promising sectors, deal opportunities, and attracting global capital. It also provided a platform for connecting diaspora communities and global investors with meaningful projects back home.
EcoCash’s initiative comes at a time when remittances are playing a pivotal role in sustaining Zimbabwe’s economy. The Reserve Bank of Zimbabwe (RBZ) reported that diaspora remittances exceeded US$2 billion in 2024, solidifying their role as a key and dependable source of foreign currency.
Experts believe EcoCash’s global expansion is both timely and strategic, enhancing the ability of Zimbabweans abroad to send money home efficiently, securely, and cost-effectively. The platform offers zero fees for withdrawing remitted funds and operates through an extensive nationwide network of more than 60,000 agents and merchants in both urban and rural locations.
In 2024, EcoCash saw its transaction volumes grow by 21%, with a remarkable 210% rise in transaction values — a trend attributed to higher wallet usage and growing customer trust.
The company noted that remittances now go beyond basic household needs like food, school fees, and healthcare. Increasingly, they are supporting entrepreneurship, small business expansion, and local development initiatives. Reliable digital payment solutions, EcoCash emphasized, are helping both rural and urban users to transact, save, and invest without the limitations of cash-based systems.
Financial analysts point out that promoting the use of formal remittance channels improves financial inclusion, reduces reliance on informal networks, and enhances consumer safety.
With Zimbabwe’s diaspora spread across countries like South Africa, the UK, the US, and Australia, EcoCash’s strategy to grow its partner network is expected to reinforce its dominant position in the mobile money market.
“Our mission is to enable Zimbabweans abroad to support their families with ease while ensuring that recipients at home enjoy secure, transparent, and seamless access to those funds – whether for daily needs or future investments,” the company said.
Also featured at the ICAZ Winter School 2025 was RemitHope, a fintech-driven social enterprise that works to fund under-resourced African-led community initiatives. The organization partners with EcoCash to channel remittances into impactful projects across the continent.
Business
Zimbabwe Bets Big on Biotech to Fuel Industrial Revolution

Dr. Eng. Willie Ganda
By Enia Dube
The Minister of Higher and Tertiary Education, Innovation, Science and Technology Development, Hon. Dr Fredrick Shava, has thrown his weight behind biotechnology as a key driver of the country’s industrialisation and modernisation agenda.
Speaking at the National Biotechnology Authority (NBA) Strategic Planning Workshop in Kadoma, Dr Shava urged the Authority to identify biotechnology-led opportunities that can boost national production and accelerate economic growth.
“Biotechnology serves as a key catalyst for NDS2 implementation, advancing inclusive economic growth, job creation, and sustainable industrial development,” Dr Shava said, emphasising the need to integrate biotechnology into national value chains to unlock a biotechnology-driven economy. He added that this would turn innovation into industry, knowledge into enterprise, and science into jobs.
The NBA has made notable progress in establishing a strong regulatory framework, promoting biotechnology research and commercialisation, and raising public awareness about the sector’s potential. The Authority has successfully commercialised products such as Mapfura wine and Cofsol cough syrup, and has several other biotechnology products in the pipeline.
Incoming NBA Board Chairperson, Professor Idah Sithole-Niang, echoed Dr Shava’s sentiments, emphasising that the Authority’s five-year strategic plan must meaningfully contribute to the attainment of Vision 2030. “This event marks a significant milestone in the Authority’s ongoing efforts to enhance the role of biotechnology in Zimbabwe’s socio-economic development,” she said.
The workshop aimed to realign priorities and resources in response to emerging technologies and global biotechnology trends, and develop a strategic roadmap to strengthen biotechnology as a key driver of Zimbabwe’s socio-economic transformation. The rapidly evolving global biotechnology landscape, including advancements in gene editing, bio-manufacturing, and climate-smart innovations, presents both new opportunities and challenges for Zimbabwe.
“We recognise the pressing need for an inclusive and forward-looking strategic plan that can navigate the complexities of the biotechnology landscape,” Professor Sithole-Niang noted. The workshop was attended by researchers, government officials, and NBA staff, who are optimistic about the potential of biotechnology to drive Zimbabwe’s economic transformation and achieve Vision 2030.
Business
GAS COMPANY, DIRECTOR IN COURT OVER ALLEGED TAX VIOLATIONS
A Harare-based liquefied petroleum gas retailer, Prompt Gas, and its director, Gift Patsika, have appeared in court on allegations of breaching tax and exchange control regulations involving more than R8 million.
The pair appeared before regional magistrate Marewanazvo Gofa on Wednesday.
According to prosecutors, detectives from the CID Asset Forfeiture Unit were deployed on Monday under an operation code-named “Pressure Valve,” which focused on inspecting fuel and LPG businesses for compliance in areas such as licensing, pricing, funding sources and banking transactions.
Investigators visited Prompt Gas premises at 1170A3 Mutare Road, where initial checks indicated that the company had imported gas from Mozambican supplier IPG between January 1 and November 18 this year at a cost of R8,006,055.75.
The State alleges that Patsika failed to furnish proof that the imports were processed through formal banking channels as required. Authorities further claim the company made offshore payments without Reserve Bank of Zimbabwe approval, in violation of exchange control regulations.
The court also heard that the origins of the funds used for the purchases could not be accounted for, raising possible money laundering concerns.
The matter is expected to continue as investigations proceed.
Business
Zimbabwe Slashes Energy Costs in Bid to Boost Economy

The Zimbabwean government has taken a significant step towards reducing business costs and attracting investment by slashing a range of licenses, levies, and fees in the energy sector. This move is part of a broader effort to modernize regulation and make the country a more competitive destination for capital.
The reforms are a direct response to the need to reduce the cost of doing business and accelerate growth in key energy subsectors, said Information Minister Dr. Jenfan Muswere, announcing the measures after Tuesday’s Cabinet meeting. The review followed extensive consultations with ministries, government agencies, and energy sector players, and forms part of the broader reform package approved by Cabinet in July last year.
The Zimbabwe Energy Regulatory Authority licence application fee has been reduced from US$2,500 to US$2,000, while the solar generation licence fee of US$2,875 has been completely removed. The petroleum import procurement license has been cut by half from US$30,000. In rural areas, the fuel retailing license has been reduced from US$200 to US$150, and the LPG retail license fee is being reduced by 50% from the current US$230.
The government recognizes that energy investment had been largely carried by the state, a position that had become unsustainable due to limited fiscal space. The new fee structure is intended to open the sector to more private investors by lowering barriers and eliminating outdated charges. “Government continues to prioritise reforms that improve the ease of doing business in order to attract and retain investment,” Dr. Muswere said.
The announcement adds to a growing list of business reforms underway across multiple sectors, including sweeping license consolidations and fee cuts in retail, hospitality, and financial services. These broader measures have included merging fragmented shop licenses, eliminating redundant permits, capping SME license fees at US$500, and cutting hotel license fees by 50%. Additional refinements to the new energy fee schedule will be finalised before gazetting once ministries complete the necessary legislative and administrative adjustments.
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