Diaspora remittance scheme recognised in New York

by MERCY MUJURU
HARARE, (CAJ News) – MAHINDRA Comviva and Econet Wireless have been recognised for an offering enabling millions of Zimbabwean in the Diaspora to send money back home affordably.

The global leader in providing mobility solutions and Zimbabwe’s largest mobile operator respectively have won the RemTECH Award in the “Visionary Game Changer” category at the recent Global Forum on Remittances, Investment and Development in New York.

EcoCash Diaspora clinched the award.

The Zimbabwean diaspora sends billions of dollars in remittance every year.

However, sending money through formal channels is expensive for most Zimbabweans, leading to a parallel industry of sending remittance through informal channels such as acquaintances and bus drivers. Relying upon informal remittance channels is risky as well as time taking.

To overcome these challenges, EcoCash, Zimbabwe’s largest mobile money service with 6,7 million customers launched EcoCash Diaspora, which provides quick, secure, cost-effective and convenient way for Zimbabweans to remit money.

EcoCash has partnered with multiple money transfer operators and mobile money providers enabling Zimbabweans in over 200 countries and territories to send money directly to EcoCash customers in Zimbabwe.

Speaking on the occasion, Srinivas Nidugondi, Senior Vice President and head, Mobile Financial Solutions, Mahindra Comviva, said, “We are truly honored to receive this award, which recognizes our technology leadership in mobility and digital payments as well as our continuous effort to innovate and make an impact towards the overall betterment of the society.”

– CAJ News