Econet Launches Mobile-Based Loan Solution

News: Zimbabwean mobile operator Econet Wireless' mobile money platform EcoCash has launched a mobile-based loan solution, named EcoCash Loans, which allows users to access urgent loans of up to US$500 using their cellphones. Repayment of the loan will be done within 30 days of securing it, on a one off basis. No interest rate will be applicable on the loans and around 5% of the loan applied for will be levied in processing fees.

News: Zimbabwean mobile operator Econet Wireless' mobile money platform EcoCash has launched a mobile-based loan solution, named EcoCash Loans, which allows users to access urgent loans of up to US$500 using their cellphones. Repayment of the loan will be done within 30 days of securing it, on a one off basis. No interest rate will be applicable on the loans and around 5% of the loan applied for will be levied in processing fees.

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Related sectors of this article: Telecoms
Geography: Zimbabwe
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