Eco-cash part­ners SA-based Mukuru Money

Chronicle (Zimbabwe) - - Business - Bianca Mlilo Busi­ness Re­porter

ECONET Wire­less Zim­babwe has part­nered re­gional money trans­fer firm Mukuru Money in a deal that will see Zim­bab­weans based in South Africa send money di­rectly and in­stantly into EcoCash wal­lets.

The part­ner­ship will make re­ceiv­ing money more con­ve­nient lo­cally through EcoCash agents that are dot­ted around the coun­try.

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.

Econet Wire­less chief ex­ec­u­tive of­fi­cer Mr Dou­glas Mboweni said: “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.”

Natalie Ja­bangwe-Mor­ris, gen­eral man­ager for EcoCash added that EcoCash was con­sis­tently work­ing to­wards broad­en­ing its port­fo­lio of in­ter­na­tional re­mit­tances, in­clud­ing EcoCash South Africa. She said their role as EcoCash was to en­sure that these re­mit­tances pro­vide a real im­pact on the coun­try’s econ­omy in ad­di­tion to sus­tain­ing the liveli­hoods of their cus­tomers.

“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,” said An­dré Fer­reira, Mukuru’s chief ex­ec­u­tive of­fi­cer.

“The great work EcoCash has done do­mes­ti­cally in Zim­babwe with over six mil­lion cus­tomers, will al­low the di­as­pora com­mu­nity to ben­e­fit from their na­tion­wide cov­er­age when send­ing money home with Mukuru.”

The ar­range­ment be­tween EcoCash and Mukuru will en­able the Di­as­pora to 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 in­creased lev­els of con­ve­nience and con­trol for the sender in terms of how they want the money used. — @Bian­caMlilo

Mr Dou­glas Mboweni

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