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Business Reporter

Mobile money company Ecocash has entered into partnership with growing international remittance provider, Mukuru. The partnership was facilitated and structured by Cassava, a wholly-owned financial technology subsidiary of the Econet Group, and is designed to further consolidate Ecocash’s market leadership position and inject the much needed liquidity into the Zimbabwe economy through inward remittances.“Through Cassava, Ecocash is consistently working towards broadening its portfolio of international remittances, including Ecocash South Africa, our very own offering.

“Whether we partner or go direct, our role as Ecocash is to ensure that these remittances provide a real impact on our economy in addition to sustaining the livelihoods of our customers. Therefore such unique collaborations will continue to be our major focus going into the future,” said Ecocash general manager Natalie Jabangwe at the launch yesterday.

Cassava’s strategy for Ecocash remittances is to introduce many options for Zimbabweans living in the diaspora to send money home in an affordable, safe, convenient and most reliable manner. With over 6,5 million customers and a robust network of almost 30,000 agents, Ecocash position and ability to deliver such a remittance service is unrivalled in the market.

The arrangement between Ecocash and Mukuru will enable Zimbabweans in South Africa to send money directly and instantly into Ecocash wallets in Zimbabwe.

Mrs Jabangwe said the money sent can be cashed out at any one of the Ecocash agent outlets in Zimbabwe, or used for any other service available on Ecocash such as person to person money transfer, pay bills or buy airtime.

In addition, senders in the diaspora will be able to access the same Ecocash functionality currently available locally in Zimbabwe, a feature that will not only be unique, but will also result in convenience and control for the sender in terms of how they want the money used.

These are all features and benefits that were previously not unavailable to them.

“We are excited about our new partnership with Mukuru. Remittances play a major role in our economy and in the foreseeable future we will be extending the same convenience for Zimbabweans living in other countries as we continue to innovate and bring convenience closer to our customers,” said Econet Wireless chief executive Douglas Mboweni.

Mukuru chief executive André Ferreira said Mukuru has been the leading remitter to Zimbabwe for over a decade, focusing on making it easier for the diaspora to stay connected to the ones they love.

“When we needed to expand our reach in Zimbabwe, Ecocash with the largest last mile distribution, locally, was the obvious choice. The great work Ecocash has done domestically in Zimbabwe with over 6 million customers, will allow the diaspora community to benefit from their nationwide coverage when sending money home with Mukuru,” said Mr Ferreira.

Ecocash is Zimbabwe’s leading mobile money service that is available to Econet Wireless customers. As an innovative mobile payment solution, Ecocash enables Econet customers to complete simple financial transactions such as send money, receive remittances from outside the country, buy airtime, and pay for goods and services, among an extensive range of Ecocash use cases.