EcoCash has launched a new wallet for small businesses and vendors, as the country’s biggest mobile money platform responds to the needs of a sector that now accounts for over 60% of Zimbabwe’s economy.
EcoCash Plus allows users to transact, manage payroll, pay bills, and track business records via mobile phone. EcoCash said the platform is meant to support informal businesses that often operate outside the traditional banking system. Many of these rely heavily on cash, limiting their ability to grow, access credit, or build a financial history.
“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,” EcoCash said in a statement.
With the new wallet, business owners can receive customer payments, pay suppliers and employees, purchase ZESA tokens and airtime, settle municipal bills, and access digital statements. The wallet also allows small traders to order stock from suppliers who are part of the EcoCash ecosystem.
EcoCash Plus is targeted at a range of informal and small-scale businesses, including tuckshops, small grocery outlets, agro-dealers, salons, tailors, hardware stores, artisans, and other service providers.
Economists say the market is ripe for fintech products that meet the demands of informal traders. The informal sector isn’t short on activity, but rather lacks the data needed to build trust with lenders and partners. EcoCash Plus helps create that financial record, which can enhance credibility and open up access to funding. EcoCash builds on Zimbabwe’s ambitions to widen financial inclusion and the formalisation of the informal economy.
To register for EcoCash Plus, business owners can message WhatsApp number 0777 222 152 and follow the prompts. Required documents include a valid national ID, proof of residence, and a trading licence or other relevant supporting documents.
