NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, October 15, 2015

Harare- Zimbabwe’s postal and courier company, Zimpost has extended its money transfer service to Nigeria with immediate effect to allow the sending and receiving of money among citizens from the two African states, the postal company’s communications officer Anna Munembe has said.

Known as Zipcash, the money transfer service sits on an electronic platform called International Financial System (IFS) developed by the Universal Postal Union (UPU).

Zimpost launched Zipcash in December 2013. The system allows customers to securely send or receive money locally and internationally through the postal network.

Munembe said plans where afoot to spread the service to other countries   

“Zipcash customers can now send or receive money to and from Nigeria. Currently Zimbabwe is also exchanging money with South Africa, Botswana, Kenya and Tanzania. More countries will be added to the list as agreements are concluded.”