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MTN & EcoCash partnership enables wallet to wallet transfers across borders

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This morning, EcoCash and MTN Zambia officially unveiled a remittance partnership that will enable MTN customers in Zimbabwe’s northern neighbor to send money into the country via the mobile platform MTN Money Wallet.

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The agreement launches sub-Saharan Africa’s first operator to operator cross border remittance channel.

“Our partnership is not only business to business, but also country to country,” Econet Wireless COO Fayaz King told the gathering at Meikles Hotel, where EcoCash general manager Natalie Jabangwe-Morris and Zambian counterpart Wane Ng’ambi of MTN officially signed the partnership.

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According to Econet Wireless, someone in Zambia will send money by registering with MTN Zambia and then initiating a money transfer request via a USSD mobile Money short code, and selecting EcoCash (ZW) mobile number.

IMG_0777In an energetic delivery on the new partnership, EcoCash manager Jabangwe-Morris hailed the partnership launch as another milestone in a series recent accomplishments by EcoCash, dating back a couple of years.

“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.”

Jabangwe-Morris touted the safety and security of the new remittance conduit, which she said had fraud prevention mechanisms in place; the new money transfer link, she added, was also cheaper than traditional remittance options currently on the market.

The EcoCash manager further noted that the transfer service will also be backed by support on six different platforms that include the EcoCash or Econet Call Center, Econet shops and agents, as well as the digital platforms of the two telecom companies.

Econet Wireless CEO Doug Mboweni, who did not attend today’s launch, has indicated that the telecom giant plans to extends the service, saying that Zimbabweans from more countries with MTN footprint will soon be able to remit money directly into the receiver’s local EcoCash wallet.

 

 


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6 thoughts on “MTN & EcoCash partnership enables wallet to wallet transfers across borders

  1. Until I can send ecocash from Zimbabwe to South Africa, London, Zambia etc. I am not impressed.

    1. But is this not the exact same problem that the RBZ is fighting against?

      The problem of more money going out the country and less coming in? If anything, Ecocash, hate them as I do, are doing well to make it easier (and hopefully more affordable) for more money to come into the country.

      Not a chance to at least solicit a smile our of you @Fourwallsinaroom

      1. I understand that this is a problem my thinking is…

        If you allow money to flow in and out freely, then as a consumer I am more likely to trust the banking institution because I can send money to Zim and I can send out at will. What this will deter me from is keeping money in a shoe box under my bed.

        I have been evaluating the situation in South Africa for instance. The law here is pretty much what ever foreign currency you bring into South Africa you are entitled to take out of the country. So if I come with 50000Euro for instance, when I leave, all I do is show a withdrawal slip from an ATM at my bank (FNB or whoever it is) or any money changer and I can buy 50000Euro no problems.
        Now in Zimbabwe you want a situation where as someone based outside at the moment, I remit to Zimbabwe, and when its time for me to come back I have to fight for the same dollar I bought into the country in the first place.

  2. congratulations Ecocash. lts good to see a Zimbabwean company expanding ,looking from where they started. wonderful

  3. Thank you Econet…m on a wek tour of duty in Zambia and this is refreshing news. To my beauty Chichi….l love you….check your ecocash balance my love.

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