Zimbabwe: Econet Wireless Partners Mukuru.com
Econet Wireless Zimbabwe on Wednesday announced a money transfer deal between EcoCash and Mukuru Money Transfer, which is a well-established and growing international remittance provider.
The partnership was facilitated and structured by Cassava, a wholly-owned financial technology (FinTech) subsidiary of the Econet Group, and is designed to further consolidate EcoCash's market leadership position and injecting the much needed liquidity into the Zimbabwe economy through inward remittances.
The arrangement between EcoCash and Mukuru would enable Zimbabweans in South Africa to send money directly and instantly into EcoCash wallets in Zimbabwe. The money sent can be cashed out at any one of the EcoCash agent outlets in Zimbabwe, or used for any other service available on EcoCash such as person to person money transfer, pay bills or buy airtime. In addition, senders in the diaspora will 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 unparalleled levels of convenience and control for the sender in terms of how they want the money used. These are all features and benefits that were previously not unavailable to them.