CABS partners WorldRemit

20 Nov, 2020 - 00:11 0 Views
CABS partners WorldRemit CABS Bank

The Herald

Financial services provider,  CABS yesterday announced a new partnership with global money transfer  agency, WorldRemit, which will enable people to collect diaspora  remittances through the bank’s branches countrywide.

CABS managing director Mehluli Mpofu said: “You can now collect cash  from any CABS branch nationwide upon production of a valid WorldRemit  reference number and Identification documents i.e. National ID, driver’s  licence or valid passport.”

“All cash pay outs will be made in United States dollars only and all  transaction fees, charges and commissions will be borne by the remitter.

“The receiver will be paid the full amount stated in the message,” he  added.

Earlier this year, the World Bank forecast that in the wake of the

Covid-19 induced economic crisis, remittances to Sub Saharan Africa  would fall by 23,1 percent, but WorldRemit is bucking the trend.

Last month, WorldRemit, said it had recorded increased demand for their  remittance services to Zimbabwe.

The company said the continued growth was being driven by the  number of cash collection points being made available during Covid-19,  with key partnerships formed with companies such as Mukuru and OK retail  stores.

Pardon Mujakachi, Head of Sub Saharan Africa and Country Director for  Zimbabwe at WorldRemit said: “We are continuously looking at how we  respond to the increasing demand for our product in the diaspora and  innovate payout options for customers at home. The customer demand  creates opportunity for growth and the expansion of our footprint  especially in the hard to reach areas of Zimbabwe. Our aim is to ensure that everyone everywhere has access to our service.”

Zimbabwe has a sizeable population living and working in various parts  of the world.

According to official statistics, Zimbabwe received US$635 million in  Diaspora remittances in 2019, up from US$619 million in 2018. —  New Ziana.

Share This:

Sponsored Links