ZIMBABWE – Econet today announced that its 8 million strong customers will soon be able to buy the latest generation phones, known as smartphones, and tablets such as iPads on 24 month instalments following the creation of a special credit facility at TN Bank.
Econet said plans are already at an advanced stage to restructure the bank so that it can process small loan applications for cell phones and i-Pads. The plan to finance phones on credit is part of the cell phone company’s reasons for acquiring TN Bank.
The facility at TN Bank is expected to kick off once Econet has completed its acquisition of TN Bank. “It is just one of several strategies which Econet is planning for the bank, which is now completely being run by Econet executives,” Econet said in a statement.
In order to grow its revenues in a maturing voice market, Econet needs to convert more and more of its eight million customers to users of smartphones and tablet computers which can use high-speed data and Internet services.
Due to liquidity constraints and the ravages of hyperinflation, many Zimbabweans are behind in upgrading their communication devices. This is the reason why Econet has decided to essentially speed up the process.
ECONET Wireless Zimbabwe’s subscribers has reached 8 million for the first time supported by the recent introduction of Buddie Zome
Econet Wireless Commercial Director George Barbaressos today confirmed the new figures, saying the demand for Econet lines remains “very, very strong”.
“People have realised that we offer the best value in every respect, in terms of value for money, in terms of the best product range, the best coverage and the best customer service” he said.
Barbaressos, one of the very few expatriates working at Econet, said the key factor in Econet’s dominance was investment.“We have spent and continue to spend more money on our network than all our competitors combined.”
He said 2013 was going to be very much about customer service and customer experience. “It’s our main focus,” he said.
“We are going to spend significantly on customer service this year. We are going to expand and improve our network of shops, expand our call centres, and we are going to train our staff to ensure that the core values of our founder drive the company at all levels.” he added.
The company also announced that EcoCash customers have also crossed 2 million for the first time.