Mahindra Comviva’s Mobile Money Service for EcoCash Receives Top Honour at AfricaCom Awards 2013

· Mobiquity®  mobile money solution awarded ‘Best Mobile Money Service’ for the EcoCash service offered by Econet in Zimbabwe

· Prestigious Award recognizes efforts of EcoCash to deepen country’s financial inclusion and economic development

· Annually 17% Zimbabwean households use EcoCash for transactions equivalent to 22% of the country’s GDP

AfricaCom 2013 (Cape Town) – November 14, 2013: Mahindra Comviva, the global leader in providing mobile financial and VAS solutions, today announced that it has won the AfricaCom Awards 2013 in the “Best mobile money service” category for EcoCash, a mobile payment service offered by Econet Zimbabwe, and powered by its mobiquity® mMoney solution.

The AfricaCom awards are recognized as the premier accolade for service providers operating in Africa’s digital market. The winners were announced yesterday evening at the award ceremony held in Cape Town.

Speaking on the occasion, Manoranjan Mohapatra, Chief Executive Officer, Mahindra Comviva said, “It is an honor to receive such a coveted award. The emergence of sectors like financial services as key revenue contributors truly reflects the gradual transformation of African market. I am extremely elated that Mahindra Comviva’s efforts in these fields have been recognized especially for EcoCash, which strengthens the financial infrastructure.”

EcoCash service is delivering financial and payment services to the Zimbabweans, the majority of whom are unbanked and thereby providing a mechanism of organized financial services to reach all segments of the society. Mahindra Comviva’s mobiquity® mMoney solution provides EcoCash customers with a multi-functional and secure account to receive salaries, initiate international and domestic remittances, buy airtime, pay utility bills and merchant payments. Approximately 3 million Zimbabweans use EcoCash and transactions equivalent to 22% of the country’s GDP (USD 10B) are processed by the system annually.

Source: Mahindra Comviva

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