TechnoMag earlier today witnessed EcoCash, Econet’s mobile money division adding another money transfer service through a partnership with MTN Zambia to consolidate on international remittance business, focusing on Zambia to Zimbabwe.
By Cisco Eng. Shingie Levison Muringi
Econet continues to lead the bandwagon of telecommunications service provider and becomes Sub-Saharan Africa’s first operator to introduce cross border remittances from Zambia to Zimbabwe. While their rivals Telecel and NetOne are moving lackadaisically in this technological battle for relevance, the Econet Wireless Zimbabwe team is tirelessly venturing into new grounds, testing the unchartered waters and at the same time writing a remarkable success story that is now uplifting the Zimbabwean livelihoods locally and beyond borders.
Earlier this morning, Zimbabwe’s largest mobile money service EcoCash and MTN Mobile Money have officially launched a money transfer service that allows Zimbabweans living or working in Zambia to send money using MTN Money wallet. Under the partnership, a Zimbabwean in Zambia will send money by registering with MTN Zambia and then initiating a money transfer request via their USSD mobile Money short code, then select EcoCash ZW mobile number. It is as easy as that and the money will reflect in the selected EcoCash ZW mobile wallet. An SMS confirmation will be sent to the recipient and the sender.
MTN is Africa’s largest mobile phone company by customer numbers, has successfully launched similar services with mobile money companies in East Africa. Econet Wireless is Zimbabwe’s largest mobile phone company and has the largest mobile money service business in the country and one of the largest in the region through EcoCash. EcoCash, has led the way in replicating wallet to wallet cross border remittances for Southern Africa. Remittances play a major role in Zimbabwe’s economy.
“Our role as EcoCash is to ensure that these remittances are channeled through the formal market, for the security of our customers, and also for the benefit of the economy”. Mr Wane Ngambi the MTN Mobile Money Manager said. “Zimbabweans living in Zambia will now be able to send money to EcoCash customers at home, thanks to a new partnership launched between EcoCash and MTN Mobile Money, a leading global money transfer company.”
“EcoCash has been consistently working to expand the portfolio of international remittances, from the euro, US and now covering the SADC corridor. Remittances play a major role in Zimbabwe’s economy. Our role as EcoCash is to ensure that these remittances are channeled from as far wide as possible, through the formal market, cost effectively, conveniently, securely and also for the benefit of the economy,” said Natalie Jabangwe, General Manager EcoCash.
Mr Douglas Mboweni, CEO Econet Wireless, said, “We are very excited about this partnership with MTN Mobile Money. This is just the first phase. Shortly, Zimbabweans from more countries with MTN footprint will be able to send money directly into the receiver’s EcoCash wallet.”