By 
Econet Wireless Zimbabwe Limited and its subsidiary, EcoCash Holdings Zimbabwe Limited, announced a restructuring of their financial technology operations, consolidating ownership of all Fintech businesses under Econet Wireless Zimbabwe.
In a public statement released recently, the companies revealed that a Scheme of Reconstruction, finalized in April 2024, transferred ownership of EcoCash (Private) Limited, VAYA Technologies Zimbabwe (Private) Limited, Econet Insurance (Private) Limited, Econet Life (Private) Limited, MARS Zimbabwe (Private) Limited, and Maisha Health Fund (Private) Limited from EcoCash Holdings to Econet Wireless Zimbabwe.
“Econet Wireless Zimbabwe Limited and Econet Global Limited currently have a shareholding position in the Bank Holding Company of 12.4% and 12.5% respectively and intend to maintain a strategic shareholding in the Bank Holding Company.” Read the statement.
By Vongai Masuka
The move streamlines the ownership structure, placing all Fintech operations directly under the parent company.
Following the transfer, EcoCash Holdings Zimbabwe Limited retains its status as a Bank Holding Company, with Steward Bank Limited as its sole asset.
The company is currently undergoing a name change to reflect its revised focus, dropping the “EcoCash” reference.
The statement has also announced that Mr. Eddie Chibi will continue to lead the Fintech businesses as the Chief Executive Officer.
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