NETONE has appointed Mr Nkosinathi Ncube as its Managing Director MFS, becoming the defacto preferred head of mobile financial services in Zimbabwe, after landing his third title at NetOne, which is the same post he had beenn running at Econet Wireless Zimbabwe and Telecel Zimbabwe as well.
He is well known in the Mobile money Financial Services after taking a lead role as the financial services director to launch Telecash, before being promoted to Telecel’s Chief Commercial Officer, he effectively becomes the only individual to wear that one hat across all mobile networks.
By Toneo T Rutsito.
This appointment is not only interesting, but honestly dangerous, it will make or break his career. Turning around the fortunes of NetOne and One Money is no stroll in the park, they are trying to awaken a giant at a time Ecocash has conquered the market and subscribers are now less reliant on mobile money transfers, due to lack of cash, but rather are now only needing mobile money payments
Breaking this habit to introduce a new platform is not just a platform based service needed, but a major culture shift, meaning they have to give subscribers more valid reasons to start using One Money.
Those from the early days would remember Nkosinathi as the man who jumpstarted Ecocash, the brand that has led to the birth of Zimbabwe’s largest commercial bank, Steward Bank. It was a sterling job, but the environment is no longer the same.
He started off his carrier in telecoms as the head business development and planning at TelOne from the year 2005-2006, while before that, he has been a banker with Standard Chartered Bank of Ghana in 1997, and then Zimbabwe from 1998-2001.
He flexed his financial services muscles as the research and innovation analyst with FNB South Africa from 2006-2008 before joining ABSA bank as the Mobile banking services product owner.
Back Home Nkosinathi Ncube got his name when he was appointed the Ecocash Executive from 2010-2013, the year that saw the boom of mobile money in Zimbabwe.
He finished off from the telecoms sector with another top executive appointment from Telecel Zimbabwe, as he was entrusted with running Telecash, a product that still has potential to disrupt the market from the 2013- 2016.
We announced his departure from Telecel to Finmark trust, a post he was still holding till this latest bounce back appointment, as he is now trusted with running One Money , the first ever mobile money to be launched in Zimbabwe, unfortunately, the worst performing to date, regardless of many product relaunches.
He will be charged on how he turns around the mobile money financial services as he is officially the new managing director of Mobile Financial Services.