MoneyGram Partners Econet Wireless to Strengthen Services in Zimbabwe

Posted by African Examiner Business News, Featured, Latest Headlines Wednesday, October 21st, 2015

By Eric Ojo

BALTIMORE, MD (AFRICAN EXAMINER) – In a bid to further strengthen its services to customers in Zimbabwe, MoneyGram, a global provider of innovative money transfer services has sealed a collaborative deal with Econet, the leading mobile operator in the Southern African country.

The partnership between both companies is aimed at enabling customers from more than 200 countries and territories worldwide to transfer funds via EcoCash, Zimbabwe’s leading mobile money transfer solution.

EcoCash is the second fastest growing mobile money solution in Africa and it is a key player in Zimbabwe’s mobile banking and financial services sub-sector while MoneyGram is widely known for its pedigree in money transfer and payment services, bill payment services, issuance of money orders as well as processing of official checks in select markets.

The new offering means that more than 4.9 million EcoCash subscribers and MoneyGram customers can receive funds across the EcoCash network at any time, day or night, and from any place. In addition, consumers can access MoneyGram’s services at more than 20,000 EcoCash locations across Zimbabwe, or at any one of MoneyGram’s agent locations worldwide.

Meanwhile, consumers have access to MoneyGram in more than 50 African countries, and the company is working to support economic development across the continent through expanded alternative channels like the EcoCash service.

Speaking at a press conference to mark the launching of the new service in Zimbabwe, MoneyGram’s vice president for Africa, Herve Chomel, expressed his satisfaction on the partnership, noting that it is in line with the company’s vision.

“Our activation with EcoCash, a leader in Zimbabwe’s mobile money realm, furthers MoneyGram’s vision of expanding our self-service offerings to ensure an unparalleled customer experience. With the service, we are offering millions of consumers, many in remote areas of the country, access to a fast, reliable and secure method of transferring money, much of which is used to purchase life essentials and daily expenses”, he said.

Also in his remarks at the occasion, the Chief Executive Officer (CEO) of Econet Wireless, Douglas Mboweni, acknowledged that the collaboration between both companies will be very mutually rewarding and beneficial to the customers as well.

According to him, “We have a strong presence in Zimbabwe’s digital environment and we are excited to link up with MoneyGram to utilize the company’s global footprint and bring more options to our consumers”.

Mboweni added that In-wallet remittances are becoming more topical, not only in driving access to international remittances for the previously unbanked but also driving further financial inclusion as the Diaspora and home is being linked.

“By working with MoneyGram, we will help reach more consumers who rely on our domestic and international remittance services to handle their daily financial needs”, he further noted.

The launch of the new partnership between MoneyGram and Econet Wireless was also attended by Anton Luttig, MoneyGram’s regional director of southern and eastern Africa.