Remittances look on course to breaking the US$1 billion and some change record that was set last year. According to the Reserve Bank of Zimbabwe’s (RBZ) Mid-Term Monetary Policy Statement, remittance figures are up by 73% at US$649 million from the US$374 million that was recorded over the same period last year. Inflows January to […]
A storm was brewing for World Remit after they initially declined to remit donations raised by a Zimbabwean to victims of the Cyclone Idai victims free of charge. The response on social media was quite interesting as a number of people expressed their shock and some even went a step ahead pledging never again to […]
Due to the economic, cash and banking crisis a lot of Zimbabweans rely on remittances send back by their friends and relatives from the Diaspora. For the past three years or so, remittances from Zimbabweans living abroad have been averaging $1 billion in hard currency which we cannot afford to sneeze at given how much forex […]
Just in time for the festive period, WorldRemit customers can now make fast, secure and low-cost money transfers to anyone in Zimbabwe in a partnership with BancABC at any of the bank’s branches and 20 new cash pickup locations across Zimbabwe. You can read the press release below: Leading digital money transfer service WorldRemit has […]
Like I said, I’m on a roll to help you save money. Actually, maybe we should call it the #cheapskate series, what do you think? 😉 Anyway, so EcoCash enables you to receive money from the diaspora in USD through the EcoCash Diaspora service. The sender however has to send the money any one of […]
WorldRemit, the remittance company with the online service which allows people to send money all over the world has announced that it is no longer possible for users in South Africa to top up airtime for friends abroad. The company did not give any explanation as to why the service was shut down. So if […]
You know WorldRemit as the remittance company which partnered with Ecocash to enable the sending of money straight into Ecocash wallets from anywhere in the world. WorldRemit is available in over 50 countries and 140+ destinations and thus brought the diaspora to EcoCash Diaspora. WorldRemit is an ambitious remittance company on the rise. It is […]
Zimbabwe recorded $387.9 million in diaspora inflows during the first 6 months of 2016, representing a 15% decline in remittances from the $457.8 million registered in the first half of 2015.
Growing remittances emerge as Zimbabwe’s FDI alternative – total $830 million in 1st half of 2016, expected to reach $1,5 billion by year end
With dwindling foreign direct investment (FDI inflows fell by 23% between 2014 and 2015 from US$545 million to US$421 million), remittances are now the second largest form of capital inflows for Zimbabwe behind exports, emerging as Zimbabwe’s leading FDI alternative.
Hello Paisa, the remittance service that caters for South Africa to Zimbabwe remittances has launched a three-month promotion offering a free transfer of money.
This latest round brings the total capital raised by WorldRemit to $192,7 million. A year ago the remittances startup secured $100 million in a Series B funding round which came as a follow-up to another $40 million raised in 2014 from Silicon Valley Venture Capital firm, Accel Partners.
WorldRemit, the global money transfer and remittances services company, together with MTN, the Pan-African telecoms concern, have announced that WorldRemit customers can now send money instantly to MTN Mobile Money wallets in Rwanda, Uganda and Zambia.
Afrocoin, an international money transfer outfit that came onto the scene a few years ago with remittances, money transfer and airtime top-up services has announced its new partnership with EcoCash Diaspora, the remittance service arm handled by Econet’s mobile money service company EcoCash.
There is huge investment that is constantly being harvested from Zimbabweans living abroad. Tech startups can tap into this and they should be exploring some ways to do so. This would create a scenario where venture capital is essentially imported.
Earlier today, we attended the official launch of the partnership between EcoCash Diaspora and the global money transfer company, MoneyGram. The EcoCash and MoneyGram remittance option works in pretty much the same way as the other integrated remittance services such as WorldRemit, Western Union and Chitoro.
Mobile money and remittance services have managed to amplify their individual success by working together. This has managed to prove the strength of partnerships and their role in effectively extending platforms and services reach.
The EcoCash South Africa remittance service will be launched in less than 3 weeks. 200 customers will be signed up for the soft launch, and EcoCash has highlighted that it has been working with strategic partners for the training of agents and finalisation of other important details. Over 60,000 agents have been roped in for this through a partnership with PEP and its parent company.
We’ve seen some advocacy for Bitcoin locally as well, and now some people are starting to integrate Bitcoin with other common financial services. Take Bitmari for example. This is a new Bitcoin-based money remittance service for the Zimbabwe market.
In this midweek podcast, we discuss the restructuring at Google that has birthed Alphabet, EcoCash Burundi and its remittances partnership with WorldRemit, the upcoming Innovation Prize for Africa event being held in Harare on Friday the 14th of August and the workshops on WiFi being conducted in Zimbabwe by a California-based company, Aruba.
WorldRemit, the online money transfer service which has been tapping into mobile money services, recently announced the introduction of Instant Mobile Money transfers to Burundi through a partnership with Econet Burundi.
Through a partnership with Mkesh, the mobile money service owned by Mozambican mobile operator Mcel, Mukuru users in South Africa can now send money straight into a Mkesh wallet.
Chitoro, an international money transfer agency based in the UK, has just announced that it recently connected EcoCash to its receiving channel for diaspora payments targeting Zimbabwe.
After more than eighteen months, Econet has finally secured the go-ahead from the South African authorities to start an EcoCash Diaspora remittances service from South Africa to Zimbabwe
NetOne has a fair subscriber base of just under 30% of the market, which has however failed to translate into a healthier OneWallet. Accounting for less than 1% of Mobile Money subscribers, it needs to overhaul the product or face extinction.
According to the latest numbers from RBZ, Zimbabweans are handling more and more transactions electronically. The biggest driver is mobile money through services like EcoCash and Telecash. This seems to point to the opportunity in e-commerce as Zimbabweans now have faith in online transactions and digital payments.
Moving money between any two countries is pricey business. The commissions for such services have always been steep, which explains why everyone from traditional banks to remittances services and lately, mobile networks are all out to get a slice of that cake. For most Zimbabweans, a familiar service provider in this space is Mukuru. The South […]
News coming out of Barcelona at the Mobile World Congress is that MasterCard, the global payments solutions provider has announced a partnership with Steward Bank, a local financial institution. This facility has been enabled through HomeSend, an international money transfer unit that has been carrying out the same services in other markets around the world […]
It’s been a little less than a month since WorldRemit announced its partnership with the MTN Global Group. Now, the money remittances and transfer service has just announced that it has raised $100 million in a Series B funding round. Lats year the company raised $40 million from Accel Partners, a Silicon Valley Venture Capital […]
WorldRemit, the guys that partnered Econet to allow Zimbos globally to remit money direct to EcoCash wallets, have just announced a new partnership with the MTN Group that will see them enabling direct remittances to MTN’s mobile money wallets. This gives them access to some 22.2 million customers in 16 countries across Africa. Quite a huge deal! The […]
EcoCash, the mobile money arm of Econet Wireless, is set to launch a new service that allows Western Union money transfers to be made directly into a recipient’s EcoCash wallet. Western Union already has a similar web to mobile money transfer arrangement with network operators in and outside Africa such as Kenya’s Safaricom, Tigo from […]