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Business Reporter

GLOBAL research and advisory firm, Aite Group, has named Cassava Smartech and Comviva as the winners of the 2019 digital wallet innovation award for EcoCash in the ‘market adoption’ category. 

The awards, announced at the recent Mobile Payment Conference in Chicago, recognise innovation achieved by digital wallet providers that are changing the way that commerce is done. 

The winners were selected by a global panel of five external experts on digital payments and wallets. Launched in 2011, EcoCash is Zimbabwe’s largest mobile money service.

EcoCash leverages mobile technology to extend digital financial services to the financially underserved consumers. 

EcoCash has  more than 9,8 million registered customers and facilitates financial inclusion for 90 percent of Zimbabwe’s adult population. 

Commenting on the award, Cassava Smartech Zimbabwe chief executive officer, Mr Eddie Chibi, said: 

“At Cassava Smartech our aim is to help people live better lives through the transformative power of mobile money. 

“We do our best in driving mobile money services in Africa because we believe that mobile money can do more to improve lives in Africa than in any other part of the world. 

“In line with this goal, we aim to continuously improve EcoCash services for a better tomorrow”. 

Over the years, EcoCash has digitised various financial transactions in Zimbabwe, ranging from domestic and international remittances and merchant payments to savings and loans, thus creating a cash-light economy.

Comviva head of Africa region Mr Anil Krishnan was also quoted saying they strongly believe that EcoCash services have been truly transformative as they provided the key to solving Zimbabwe’s cash problem while improving financial inclusion. 

“We are very happy to receive this award as it validates our ability to make a difference with truly transformative solutions,” he said 

Aite Group senior analyst Mr Thad Peterson also said they were delighted to recognise and celebrate innovation achieved by leading digital wallet providers. 

“Digital wallets are leading an explosion of innovation in the payment ecosystem, and it’s great to have an opportunity to recognise the leaders of this revolution,” he said. 

EcoCash mobile money service is offered by Cassava Smartech and powered by Comviva’s mobiquity money platform.