EcoCash Holdings launched EcoCash Plus to help small business owners across Zimbabwe better manage their money. The mobile wallet aims at tiny shops, vendors, and service providers who make up more than 60 percent of the country's economy. Business owners can receive payments from customers, buy electricity tokens, and pay council bills using their phones. The platform allows them to send wages to workers and track all transactions with digital records. EcoCash Plus also connects small traders with large companies for ordering stock.
Zimbabwe's informal economy contributes over 60 percent of national income, but many entrepreneurs operate outside banks and formal systems. Cash transactions expose them to theft risks and prevent access...