In a recent update Ecocash company secretary,
"During the quarter,
During the period, growth of 38% was witnessed on wallet funding as customers continue to prefer mobile transactions over other payment platforms.
The mobile money business also saw a 3% growth in transaction volumes when compared to the prior quarter due to an increase in customer activity with the segment also expected to continuously improve its performance going forward driven by new innovations.
In the banking sector,
"The Bank's interest-earning assets portfolio grew by 3% from the last quarter on the back of an increase in underlying business and customer deposits.
"In the first quarter, the Bank launched the Foreign Currency Account (FCA) on Square, an innovation that digitizes all
The Life business has started offering USD denominated products in the period under review and there is a steady growth of 3% on the uptake. The Group remains focused and committed to growing this segment through providing inclusive insurance solutions both within the life and non-life business.
Vaya Technologies' growth continues to be anchored on the HealthTech business as demand for health services continues to be high.
The HealthTech products are also being bundled with other group products as part of the Group growth strategy. Over 100,000 customers have been boarded onto the MARS-EcoCash capitation model.
"The group's performance will remain constrained by the deteriorating operating environment. We will continue to leverage on our digital platforms to innovate and meet the changing needs of our customers.
"We believe that we have the right products, strategies, and team to ensure that the business can weather the current challenges and emerge stronger as the economy recovers in future," added Daniels
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