For thousands of Zimbabweans living and working in South Africa, being able to share the cash fruits of their labour with loved ones at home is now easier than ever, thanks to the recently forged partnership between MTN MoMo and EcoCash, Zimbabwe’s largest mobile money service.
The partnership, which brings together the strength of MTN and its popular MoMo app and the extensive reach of EcoCash, operated by Econet Wireless, provides a reliable, efficient and affordable way to move money directly into EcoCash electronic wallets, says Kagiso Mothibi, CEO for fintech at MTN South Africa.
“Many Zimbabweans in South Africa using MTN MoMo as their mobile money provider can now use EcoCash link, which does away with the need to use expensive and, often, time-consuming traditional remittance channels to get money to loved ones. The send money across Africa link is located inside the MTN MoMo SA App.”
The most attractive part of EcoCash is the low remittance fee structure and the ability to withdraw payments made in South African Rands as US Dollars at any of the 9 000 EcoCash representation points in Zimbabwe if recipients wish. In addition, all transfers occur in real-time on the MTN MoMo app and are immediately reflected in the chosen EcoCash wallet across the border.
“The partnership with MTN MoMo marks a significant milestone in strengthening the ties between Zimbabweans in South Africa and their families at home,” says Shepherd Hondo, GM: international remittances at EcoCash. “We are proud to be part of a solution that brings convenience, affordability, and reliability to the remittance process. We look forward to the future of this new service and our innovative partnership with MTN, which is focused on providing financial solutions that positively impact our customers’ lives.”