Zimbabweans in South Africa can now send money directly into the EcoCash accounts of their loved ones in Zimbabwe courtesy of the EcoCash Remit service. When the Rands are sent into EcoCash, recipients in Zimbabwe will receive the money into their Ecocash FCA wallet as US dollars which they can withdraw as cash at any EcoCash outlet in Zimbabwe.
Sending the money
The service was made possible through a partnership between EcoCash and Cassava Fintech South Africa (not Cassava Fintech Zimbabwe). For Zimbabweans in South Africa to get started, they only need to download the EcoCash SA App, or visit www.cassavaecocash.co.za to sign up and start to send Rands to Zimbabwe which the recipient will receive in no time when he/she gets an SMS notification. Alternatively, Zimbos in South Africa can visit at least 160 000 outlets in South Africa to send the money via an Agent.
Whilst the idea of receiving remittances in an EcoCash account makes the service preferable for the recipient in Zimbabwe, the sender will only be enticed to use the service if the charges of sending the Rands are better than the likes of HelloPaisa or Mukuru. If the charges of sending money from South Africa to Zimbabwe are as competitive as the charges we experience when we send money domestically, then Zimbo’s in South Africa will warm up to this new service.