Mobile money remittances for Zimbabwean expats
Friday, June 13, 2014
Expat Zimbabweans now have an alternative remittance service thanks to Econet Wireless partnering with cash transfer firm WorldRemit on a mobile money offering.
Econet’s mobile money service EcoCash has surpassed 3 million registered users in Zimbabwe and company officials said on Wednesday that its agents have now reached 13,000.
EcoCash currently allows services such as bill payments, airtime top-ups, payroll payments, a savings account and loans within Zimbabwe.
And the partnership with WorldRemit further allows expat Zimbabweans in the diaspora — including those living in the United Kingdom, United States and other countries such as Tanzania, Nigeria and Kenya — to send money straight into the mobile wallets of their friends and relatives back home in Zimbabwe.
But Darlington Mandivenga, chief executive officer for Econet services, says the transfers from Zimbabwe into other international countries through this partnership are still limited at this stage.
“The central bank has exchange control regulations that do not allow the outflow of money through the service at the moment,” he said.