EcoCash Holdings Zimbabwe Rebrands Following Restructuring

EcoCash Holdings Zimbabwe is rebranding and dropping the “EcoCash” name, following restructuring that was done back in April 2024 which saw the company transfer its financial technology businesses, including EcoCash (Private) Limited, VAYA Technologies Zimbabwe (Private) Limited, and other fintech entities, to Econet Wireless Zimbabwe Limited.

In a statement, Econet highlighted that the reorganization, implemented through a Scheme of Reconstruction, leaves EcoCash Holdings Zimbabwe as a bank holding company with Steward Bank Limited as its sole asset.

A key development in the restructuring is TN’s acquisition of a 53.3% stake in the bank holding company. This comprises a 29% holding already compliant with banking regulations, with an application pending to the Registrar of Banks to approve the remaining 28.3%, exceeding the standard 25% limit. Econet Wireless Zimbabwe Limited and Econet Global Limited retain strategic shareholdings of 12.4% and 12.5%, respectively.

Since April 2024, the divested fintech businesses have operated as subsidiaries of Econet Wireless Zimbabwe Limited, with their performance integrated into the company’s public financial reports.