RBZ puts measures for diaspora remittances

THE Reserve Bank of Zimbabwe (RBZ) is putting in place measures to allow Diaspora remittances after licencing 34 money transfer agencies by December 2015, deputy governor Kupukile Mlambo has said.


EcoCash general manager  Natalie Nyabangwe speaking at the launch of its partnership with Chitoro
EcoCash general manager Natalie Nyabangwe speaking at the launch of its partnership with Chitoro

Speaking at the partnership between Econet Wireless Zimbabwe and international money transfer agency, Chitoro, in Harare yesterday, Mlambo said remittances from the Diaspora were $935 million in 2015.

“We are putting in place measures to continue encouraging Diaspora to send money home. We have a large Diaspora base and the contribution is huge. To date, $935 million was received in 2015 through the Diaspora,” Mlambo said adding that companies should harness technology at their disposal.

As part of the partnership, Zimbabweans living in UK would send money using Chitoro directly into Econet’s mobile money transfer business, EcoCash.

Once the money has been received, it can be used to pay for services, buy goods from over 18 000 merchants in Zimbabwe, or collected in cash from any one of more than 25 000 EcoCash agents.

Chitoro is one of the pioneers of online money remittances. It provides a low cost, secure and convenient way to send money directly to EcoCash, Zimbabwe’s leading mobile wallet, Steward Bank and CABS.

Econet Wireless Zimbabwe chief executive officer Douglas Mboweni said: “We believe in the power of partnerships. Through our partnership with Chitoro, we are also playing a role towards the government’s drive to improve Diaspora remittances into the country. We invite our valued clients in the UK to take advantage of this service when sending money to their loved ones back in Zimbabwe.”

Director of Chitoro, Haxton Rose said: “This is a momentous occasion for Chitoro, our customers in the UK, as well as their loved ones in Zimbabwe. The EcoCash channel adds convenience and choice for recipients in Zimbabwe. We are proud and humbled to be announcing this partnership with Econet and EcoCash and look forward to growing the Chitoro services and continuing to provide excellent service to all our customers.”

Chitoro was acquired by Econet Group subsidiary, Cassava Connect Ltd, a Mauritius- based company, in late 2015.

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  1. What are the charges for this service? Compared to MoneyGram. Where can we access the price sheet?

  2. There is also Worldremit, an instant and reliable online transfer agency connected with Ecocash. They are far cheaper than Moneygram etc and have a worldwide penetration.

  3. Ndomari ka idzi dzataisekwa kunzi, kukwesha misana yetwuchembere. Makudzida manje?

  4. I will stick to MoneyGram for now coz anything to do with lawless Zimbabwe businesses is a bit tricky guys. This Chitoro thing is a sister company of Ecocash so make your own choice

  5. Haaaa zvaoma… Ukaona nyika yakuteya mari dzekugeza chembere! Ko madiamonds edu ko land yedu ko this that zvedu zvatadza kusimudzira nyika here?
    Usatuke mvuu usati wabira mhiri kwerwizi….

  6. How absurd that their money is worth yet they can’t vote in their on country

  7. Some of you big mouths dont even send money to your parents coz you just dont have it. Musada kushamisira panapa nekugeza twuchembere twevarungu…mari munotumira kuhama dzenyu chete and noone else,

    1. Iri pano ndeye wanotumira mari, wasiri kugara muZim. Iwe uri nembudziya, u ae any un expected visitor here.

  8. Natalie Jabangwe not Nyabangwe

  9. @Tengenenge, iwe unayo? Usade kushamisira wanzwa? Bvuma kuti tapererwa.

  10. Nothing new here. Mari taingotumira without reserve bank approval.
    Saka they should not appear as if they have done anything.

  11. Why chitoro,,,, chitoro,, only in the whole story, Mr writer, were you paid to publish the story????

  12. munyori wabhadharwa tibvire apa, what measures. moneygram kusvika zvanaka hameno ikoko nezvitoro zvenyu

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