EcoCash swings back into profitability
Technology outfit EcoCash Holdings chairperson Sherree Shereni , has projected that the Zimbabwe Stock Exchange-listed firm is in for exciting times, after financial statements for the half-year to August 31, 2022 showed it had bounced back into profitability, defying “environmental headwinds.”
EcoCash lifted inflation-adjusted pre-tax profit to $911,1 million in the six months, rising from a $106,2 million loss during the comparable period.
Operations were boosted by an aggressive digital transformation strategy, which was also acknowledged by key unit Steward Bank last week.
Revenue swung up $45,4 billion, a 6,8% rise from $42,5 billion in 2021, as it tracked inroads from Steward Bank, which consolidated its forex earning capacity after approving United States dollar loans.
EcoCash, which superintends over leading tech-based brands, see fresh opportunities on the Zimbabwean market where it would be deploying “transformational innovations in the pipeline” to build the business.
Several such innovations came onto the market during the review period, including EcoCash Bill Manager, which signed up over 200 000 customers.
The platform aggregates service providers, allowing customers to “conveniently pay their bills.”
EcoCash also rolled out EcoCash chatbot, an artificial intelligence-driven customer experience solution to improve efficiencies in query resolution.-newsday
