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Herald Reporter
Econet Wireless Zimbabwe is now exploring new free remittance routes and seeking the required licences to extend the service already launched for money transferred from United Kingdom and South Africa, which it plans to retain “for the foreseeable future”.
Econet’s Group CEO, Dr Douglas Mboweni, said the initiative would remain in place for some time, and would be expanded as the company was exploring free remittances initially for other routes, such as the US, Europe and the Middle East.
“The initiative will continue for the foreseeable future. We are now actually working on expanding the free remittances to Zimbabwe to other source markets, such as the US, Europe and Middle East, so that Zimbabweans with friends and family in those regions can also benefit from our offer,” Dr Mboweni said.
“However, our group currently does not have licences that allow us to extend the service to all markets at this time. But we are busy looking at how we can do that,” he said.
Last week Econet achieved an Africa first by opening free remittance corridors that completely eliminate the cost of transferring money from the UK and South Africa into Zimbabwe. This followed Econet’s partnership with its sister company, Sasai Money Transfer, to enable individuals and companies in the UK and South Africa to send money into Zimbabwe free of charge, with the receiver cashing out of their EcoCash US dollar wallet for free.
Online Reporter