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TN CyberTech Investments Holdings Limited (TN CyberTech), formerly EcoCash Holdings Zimbabwe and part of billionaire Strive Masiyiwa’s Econet Global, is stepping up efforts to capture a bigger share of Zimbabwe’s $1.5 billion remittance flows. The company is expanding its reach in key diaspora hubs such as the United Kingdom, South Africa, Botswana, and the United States, partnering more closely with international money transfer operators.
The goal is to make it easier for Zimbabweans abroad to send money straight into TN CyberTech wallets, where funds can be used for bill payments, shopping, savings, or cash withdrawals through its nationwide agent network. With the Reserve Bank of Zimbabwe reporting remittances of more than $1.5 billion annually, the company sees an opportunity to become a more central player in one of the country’s most dependable sources of foreign currency.
Remittances under pressure and competition
For millions of Zimbabwean households, money from abroad is more than just income—it keeps families afloat, sustains small businesses, and provides some stability in uncertain times. With wages at home under pressure, remittances have become a financial anchor. TN CyberTech says that making it possible to fund wallets directly will cut costs, speed up transfers, and widen access to financial services.
That ambition, however, faces tough competition. Commercial banks, fintech startups, and global brands like Mukuru, WorldRemit, MoneyGram, and Western Union are all chasing the same customers. Many rely on bank partnerships and agent outlets, but TN CyberTech’s strong local presence and name recognition continue to give it an edge with Zimbabwean users.
Technology, new products and regulatory test
To build on that advantage, TN CyberTech is investing in technology to lower transaction costs and is introducing products linked to remittances. These include micro-insurance, savings accounts, and merchant payment tools that can help turn one-off transfers into ongoing financial engagement.
This push mirrors a wider trend across Africa, where mobile money platforms are evolving into full-service financial ecosystems. The RBZ expects remittance flows to remain steady in 2025, highlighting their importance for Zimbabwe’s balance of payments. If TN CyberTech can grow its international channels, it will strengthen its role in the financial system. But hurdles like regulatory demands, agent cash shortages, and stiff price competition will continue to shape how far its plans go.
TN CyberTech’s role in Zimbabwe’s recovery
TN CyberTech, part of Cassava Smartech, has long used digital technology to widen access and support communities. Masiyiwa, worth an estimated $1.3 billion, holds a 30.26 percent stake in the company through Econet Global, equivalent to 783,882,701 ordinary shares.
The renewed focus on remittances is not just about boosting transaction volumes. It is also about reinforcing the company’s role in Zimbabwe’s recovery. By making diaspora funds easier to access and more useful in daily life, TN CyberTech hopes to strengthen financial resilience for households while contributing to the country’s broader economic stability.
