Eco-cash partners SA-based Mukuru Money

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