MoneyGram Announces Collaboration with Econet Wireless in Zimbabwe

Money Transfer

Money transfer service provider MoneyGram has launched a new service in partnership with Zimbabwean market leader Econet Wireless.

The service enables customers from more than 200 countries and territories worldwide to transfer funds via EcoCash, Zimbabwe’s leading mobile money transfer solution.

The new offering means that more than 4.9 million EcoCash subscribers and MoneyGram customers can  receive funds across the EcoCash network at any time, day or night, and from any place. Consumers can access MoneyGram’s services at more than 20,000 EcoCash locations across Zimbabwe, or at any one of MoneyGram’s agent locations worldwide.

Herve Chomel, MoneyGram’s African VP, said: “With the service, we are offering millions of consumers, many in remote areas of the country, access to a fast, reliable and secure method of transferring money, much of which is used to purchase life essentials and daily expenses.”

EcoCash is the second fastest growing mobile money solution in Africa. Douglas Mboweni, CEO of Econet Wireless, said: “In-wallet remittances are becoming more topical, not only in driving access to international remittances for the previously unbanked but also driving further financial inclusion as we link the diaspora and home. By working with MoneyGram, we will help reach more consumers who rely on our domestic and international remittance services to handle their daily financial needs.”

Consumers have access to MoneyGram in more than 50 African countries, and the company is working to support economic development across the continent through expanded alternative channels like the EcoCash service.
Source: Developing Telecoms 28 October 2015