Econet recently delved into the world of currency exchange and launched their online digital platform Bereau de Change, where users can exchange their US dollars to rtgs or vice versa. Today has seen Econet dominating the currency exchange platform by offering more money than banks.
Econet is currently buying US dollars at $10.80 ZW for every 1 US dollar as opposed to the average rate of $10.24 for every 1 US dollar being offered by the banking sector. The black market however remains at the top with an offer of around $11. 2 ZW for every 1 US dollar.
There is speculation that Econet is trying to market it’s new exchange platform and broaden its consumer base. It remains to be seen whether it will be consistent in buying foreign currency at a higher rate or not. Banks might experience a decline in trading today with regards to current exchange because of the stance taken by Econet.
Econet is constantly upgrading its operations to align with the economic transitions in the country. It is one company that has managed to make inroads in many technical areas. It also recently unveiled an online music streaming platform called Buddie Beatz which has been receiving a lot of positive reviews. Econet is also into funeral policy as well as another wide array of activities.