EcoCash taps into Diaspora remittances

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ECONET Wireless Zimbabwe has partnered with WorldRemit to provide a new international remittance services to its mobile money transfer service, EcoCash.

TARISAI MANDIZHA

The development means that EcoCash subscribers can receive money on their wallets from all over the world.

Speaking at the launch of a new remittances service yesterday, Econet Services chief executive officer Darlington Mandivenga said the transfers would be made using credit or debit cards through the WorldRemit website.

“The launch of this partnership could not have come at a better time, when the government of Zimbabwe has been actively raising awareness on the importance of the Zimbabweans in Diaspora in furthering the economic development and stability of the nation,” Mandivenga said.

He said Zimbabweans in the Diaspora should fully utilise the WorldRemit-EcoCash remittance service because of its increased convenience, flexibility, speed and security.

According to the World Bank, $519 billion of remittance payments were made in 2012, of which $1,8 billion was estimated to have been sent to Zimbabwe.

Mandivenga said they were projecting to get at least a third ($600 million) of the remittances.

WorldRemit launched its online money transfer service to Zimbabwe in December 2010, which quickly became one of its largest African corridors.

WorldRemit North America director Rob Ayers said the company was inspired by some inconsistences in the services which were being brought to the market and the desire to improve the inconveniences to send money, the speed and the cost of the transaction.

“We see a rapid growth in the remittance services. Western
Union relies on agents and when you rely on agents you entrust them with a lot of cash.

“WorldRemit is not new to Africa and it is safe, more reliable and more convenient,” Ayers said.

He, however, said WorldRemit will charge around 5% for transfers while EcoCash will not charge the recipient any additional fees for the transaction.

Ayers said WorldRemit already has a similar partnership with mobile operators in Kenya and other parts of Africa.

20 COMMENTS

  1. Well done Econet!! That is a big step you have taken. Please make this work either way i.e sending money to the Diaspora from here. A lot of people have children learning outside especially South Africa and we always find it very expensive to send money to our children for their upkeep using the banks. The charges are exorbitant and it is not fast at all. The only way is to use a Telegraphic Transfer which takes 3 to 4 days for the money to reach its destination.

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  2. I think econet should run the government because they are innovative not these clueless bunch of fatcats , hanzi mai mujuru vakati zim asset inoda 40 years honestly this is a circus

  3. Econet for government kkkkkkkkkk i think its a hillarious idea and eishhhh it might work coz Econet is doing wonders

  4. My last pay check was $8500 working 1o hours a week online. My younger brother friend has been averaging 12k for months now and he works about 22 hours a week. I cant believe how easy it was once I tried it out. This is wha­ I do……

    w­w­w.j­o­b­s­6­0­0­0.c­o­m

  5. Used it yesterday after I saw an article on newzimbabwe.com and was quick my recipient got an SMS in minutes jus like I got an email in minutes from London to Harare

  6. Whilst American dream was built around successful brands like Coca-Cola, Standard oil etc Zimbabwe has a great opportunity to rally behind Zimbabwean successful brands like Econet to solve prevailing problems like liquidity…Members of the Politburo let’s us be pragmatic about this one.

  7. my stepmother just purchased a nice 12 month old Buick Regal Sedan just by part time work from a laptop. go to this

    try this site >>>>>>>>>>>>>>>>>>>>>>> W­W­W.TEC90.ℂ­O­M

  8. World Remit is simply the best. Go to their website and it’s so easy to use. Need a smartphone though. The best is to download the application after registering your details. It’s better than western union by far

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