Econet moves into banks?

No Econet has not invaded any bank! But this week Econet will acquire a 49% stake of TN bank as it progresses to consolidate its ownership and spread its brand across all sectors of the economy.

Image courtesy of 

http://www.euromoneyconferences.com/Assets/8/Partners/Sponsor%20-%20Africa/TN%20HOLDINGS%20LOGO_new.gif

The largest telcommunications producer in Zimbabwe sought partnership with the bank to synergize its EcoCash project further. @Business digest

According to @Business Digest. TN Bank was actively involved in the registration of EcoCash clients.

For any businessperson Econet’s Strive Masiyiwa is trying to diversify the Econet brand. 

The Econet brand already performing well on the stock market will encourage Econet customers to identify with the bank's portofolio. It is also believed the investment would reposition TN Bank among the top four banks in the country.