- Telecommunications giant, Econet Wireless has unveiled two free remittances corridors into the country, eliminating the cost to both senders and receivers of foreign currency, marking it a first in Africa.
Econet partnered with its sister company Sasai Money Transfer to enable individuals and companies in the United Kingdom and South Africa to send money into Zimbabwe free of charge, starting to day the 5th of May, 2024.
This initiative not only cancels fees for senders but also ensures that receivers can cash out from their wallets without any charges. This step is aimed at extending a lifeline to Zimbabweans living in the country and abroad as international remittances are typically burdened by fees of up to 15 percent for senders and 3 percent for receivers upon cash out.
Econet’s extensive Ecocash agent network ensures that even people in remote areas have access to low-cost financial services, reducing the need for people to travel long distances to collect cash.
<p>The post Econet Wireless removes charges on forex remittances first appeared on Dandaro Online.</p>
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