Econet to expand transfer platform to SA, UK

By Marcus Mushonga

ECONET Wireless, Zimbabwe’s biggest telecommunications company, announced plans to expand its money transfer platform, Ecocash, to South Africa and the United Kingdom to tap into the growing number of Zimbabweans living in the two countries.

Ecocash Services Chief Sales Manager, Eddie Chibi, told CAJ News that the move was awaiting approval from Reserve Bank of Zimbabwe.

“We are engaging the RBZ to give us the green light for the project,” he said.

“We want to make sure that our relatives in South Africa and UK have a reliable service to send money to their relatives in Zimbabwe.”

Chibi said the platform would culminate in the company working with other money transfer agents abroad.

South Africa and UK are home to more than 3 million Zimbabweans who fled the country at the height of economic problems after 2000.

Zimbabweans living outside the country remit more than $2 billion annually and contribute immensely to the economic revival of the country.

Most of the have been using many ways of sending money including some that insecure and slow, a development that results in leakages.

Ecocash is rated as Zimbabwe’s fastest growing money transfer company and

has surpassed 4.2 billion users in less than two years. CAJ News