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Mobile banking helps restore confidence in Zimbabwe


October.06.2014 0 Comments

Zimbabwe

Seven years ago, Zimbabwe’s financial crisis and hyper-inflation meant most people lost confidence in the banks – but now, that confidence is slowly returning.
Money is finding its way into mobile phones through a new platform called EcoCash. Fast, efficient, financial transactions are taking place in real-time, far away from the physical branches of the banks.zimbabwe-mobile

This means the people who really benefit from the system are those living in remote, rural areas.
Reporting for Africa Business Report the BBC’s Brian Hungwe explains how this mobile money business is working.