GetCash Private Limited

GetCash Private Limited operates within the financial software sector in Zimbabwe, focusing on mobile money services. The company was established in 2014, originally as NettCash, before being acquired and rebranded. In July 2016, the investment holding group Brainworks Capital Management, founded by George Manyere, acquired NettCash and relaunched it as GetCash. This strategic move was intended to integrate the mobile money platform with Brainworks' other financial services, notably the micro-credit firm GetBucks. The official launch aimed to address the cash shortages and drive financial inclusion in Zimbabwe by providing a convenient, low-cost digital payment solution.

The core of GetCash's business is a mobile wallet application that enables peer-to-peer money transfers and a suite of payment services. The platform was designed to be network-agnostic, allowing users on any mobile network in Zimbabwe to use its services, a key differentiator at the time of launch. The application facilitates various transactions, including bill payments for utilities like ZESA and merchants such as DStv, airtime top-ups, and fund transfers from commercial bank accounts into the GetCash wallet. Initially, the business model focused on achieving a large user base by offering zero-rated transactions, with revenue expected to come from advertising to this user base once critical mass was achieved. At its launch, the company reported having 3,000 merchants and a similar number of agents.

The service primarily targets the financially excluded population and smartphone users through its app, available for Android and iOS. The platform allows users to create and manage a mobile wallet without needing a traditional bank account, addressing liquidity challenges by reducing the reliance on physical cash. A key feature was the ability to apply for loans, linking directly to the GetBucks service. Despite its initial premise to operate across different mobile money platforms, GetCash faced significant competition from established players like EcoCash, which dominated the market. By 2017, GetCash was acquired by MyBucks. More recent reports indicate the company is now considered deadpooled, having struggled to gain significant market share against entrenched competitors. By 2018, it had only about 267,000 subscribers, a small fraction of the total mobile subscribers in the country.

Keywords: mobile money, fintech, Zimbabwe, financial services, digital payments, mobile wallet, P2P transfers, bill payments, financial inclusion, Brainworks Capital, George Manyere, NettCash, MyBucks, mobile banking, cross-network transfers, agent network, merchant payments, electronic transactions, cashless society, micro-loans