MTN Zambia has signed a partnership with the Zimbabwean mobile money giant EcoCash. EcoCash is owned by Econet the leading telecommunications service provider in Zimbabwe. The partnership will enable money transfers between people in the two countries who will be able to send and receive cash instantly using EcoCash in Zimbabwe and MTN in Zambia.
Representing MTN Zambia at the signing ceremony held yesterday in Harare Zimbabwe’s’ capital, Head of MTN Mobile Money, Mr. Wane Ngambi said, ‘the partnership is an indication of growth and a sign of big opportunities that cannot be covered by boundaries’.
Ngambi said, ‘MTN Mobile Money was experiencing dynamic and rapid growth in the telecommunications sector’.
Currently, MTN Mobile Money is facilitating money transfers, deposits, withdrawals and bill payments across some two million subscribers in Zambia with over 200,000 active transactions on a monthly basis, 2 translating into 23 thousand nine hundred dollars’ worth of transactions.
MTN Mobile Money loans are also offered on the platform.
Statistics show a potential market of over 200,000 Zimbabweans who live in Zambia expounded by the close relations that the two countries enjoy presenting unlimited trading opportunities and social support networks.
Meanwhile Econet CEO Mr Douglas Mboweni said, “We are very excited about this partnership with MTN Mobile Money. This is just the first phase.”
Also at the signing ceremony, EcoCash Head General Manager, Natalie Jabangwe said, “Our role as EcoCash is to ensure that these remittances are channelled through the formal market, for the security of our customers, and also for the benefit of the economy.”
EcoCash, has led the way in replicating wallet to wallet cross border remittances for Southern Africa. Remittances play a major role in Zimbabwe’s economy.