Econet Wireless Zimbabwe has confirmed that it now has over 1.7 million users of its mobile payment service EcoCash one year after its launch. The company said in a press release that this makes it the second fastest-growing mobile money transfer service in the region after Safaricom Kenya’s M-Pesa. Rival operator Telecel recently revealed that it had phased out its own mobile money service after slow subscriber take-up. Econet Wireless is Zimbabwe’s dominant cellular operator, with around 6.8 million customers and a 63% market share at the end of June 2012, according to TeleGeography’s GlobalComms Database.
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