SA Reserve Bank clears EcoCash Zimbabwe transfers

Strive Masiyiwa, Member, Africa Progress Panel, and Founder, Econet Wirelessat the World Economic Forum on Africa 2013. Copyright by World Economic Forum / Benedikt von Loebell
Econet Wireless
Strive Masiyiwa, founder and executive chairman of diversified international telecommunications group – Econet Wireless.

The South African Reserve Bank (SARB) has given Econet Wireless the go-ahead to begin cross-border mobile money remittances to Zimbabwe.

Under the recent SARB-licenced dispensation, the EcoCash platform will enable Zimbabwean citizens living abroad to send money back home.

The company stated that: “EcoCash and its South African partners have finally secured approval from the South Africa Reserve Bank to start a cross border remittance service from South Africa.”

According to the company, it would take several weeks for the service to be fully established, adding that it would be up and running by the end of July 2015.

Staff Writer