- Over 200 countries can send and receive money via Vodacom'sTanzania M-Pesa.
- The mobile Money services continues to drive economic growth and financialinclusion in Africa.
Dar es Salaam,Tanzania - EQS Newswire - 7 July2020 - Tanzania's leading mobile money service provider - VodacomM-Pesa - has announced the expansion of its International Money Transferservice portfolio. Vodacom customers will now have the option and ability toeasily transfer and receive funds from individuals across more than 200countries worldwide.
Download Image: AssistantManager, Oversight and Policy at Directorate of National Payment Systems fromBank of Tanzania, Albert Cesari (centre), in a group photo with VodacomTanzania Executive Committee members including WorldRemit Tanzania CountryDirector Cynthia Ponera (second left) during International day of family remittancesevent held in Dar es Salaam
This was said recently at aninternational day of family remittances event held in Dar es Salaam wherestakeholders met to deliberate on the future of International Remittance postCOVID 19.
Speaking during a panel discussionon the same, Assistant Manager, Oversight and Policy at Directorate of NationalPayment Systems from Bank of Tanzania (BOT) Albert Cezari said the nationalbank has increased limits on digital transactions and reviewed balances ofmobile wallets in a bid to provide relief and ensure continuity of services aspart of measures taken amidst COVID-19.
On his part, Vodacom Tanzania PLCManaging Director Mr. Hisham Hendi, said that international remittances makepossible people and small businesses to stay connected irrespective ofgeography. He further pointed out that international remittances continue totransform the lives of thousands of Tanzanians through facilitating payments ineducation, health, and various business segments which is why Vodacom M-Pesa hasaimed to continue providing a platform for Tanzanian diaspora to effectivelyparticipate in socio-economic activities which will contribute to the overalldevelopment of the country.
"We pride ourselves for beingenablers in the payment system by facilitating cross border trade within theregion for the efficient and seamless sending and receiving of funds, fromanywhere around the globe through M-Pesa International Money Transfer Service.'He said.
Vodacom M-Pesa has broadened itsportfolio of partnerships and countries over the past few months to widen itsMoney transfer service worldwide. At the global stage, partners includeMoneyGram, WorldRemit, Remitly and JubaExpress, all of whom enable customers toreceive money from over 200 countries across the World directly into theirM-Pesa wallet.
Pan African partnerships includeSafaricom, MTN, EcoCash and Mama Money, which enable customers to send orreceive money from Kenya, Uganda, Zambia, Burundi and South Africa.
'With such a huge portfolio ofinternational Money transfer partners, the world is a village with M-Pesa. Wethank our customers for their patronage and we remain committed to deliver onour vision to lead Tanzania into the digital age and change lives throughtechnology" He concluded.
Peter De Caluwe, CEO- Thunes praisedthe move saying such partnerships and innovations support the true Africanspirit because African countries have always been connected through dailymovement of people, goods and services. International Money Transfer servicesare critical to the African economies as they facilitate inflow of foreigncurrency into these countries which has a direct bearing on the social andeconomic welfare of Africans".
"Whilst the importance ofmobile payments to financial inclusion in developing markets cannot beoverstressed, the M-Pesa IMT service goes an extra mile by allowing previouslyexcluded to send and receive money across borders affordably. Thus ourpartnership with Vodacom M-Pesa aims at increasing the reach of internationalmoney transfers'.
According to World Bank Figures,Tanzania recent remittances stood at $430 million, an increase of $25 millionfrom 2019. The sum represents 0.8 percent of the country's GDP.
The issuer is solely responsible forthe content of this announcement.
About Vodacom Tanzania:
Vodacom Tanzania Plc is thecountry's leading mobile operator and mobile financial services provider. Weprovide a wide range of communication services for consumers and enterprise -including voice, data and messaging, video, cloud and hosting, mobile solutionsand financial services - to over 15 million customers. Vodacom Tanzania Plc andits subsidiary companies are part of the Vodacom Group registered in SouthAfrica, which is in turn, owned by Vodacom Group Plc of the United Kingdom. Ithas been registered on the Dar es Salaam Stock Exchange (DSE) with registrationnumber ISIN: TZ1886102715 Stock name: VODA.
For further information, pleasevisit our website: www.vodacom.co.tz
About Vodacom M-Pesa Tanzania
Vodacom M-Pesa is Tanzania's largestmobile financial service introduced by Vodacom Tanzania PLC in 2008. Now GSMAcertified and with over 10 million customers, M-Pesa has significantlycontributed towards financial inclusion and economic activity in the country.Customers deposit and withdraw money from their M-Pesa wallets through over200,000 agents across the country. The M-Pesa ecosystem connects businesses,banks and government agencies making digital payments possible.
To date, M-Pesa continues to be themarket leader in mobile financial services, rolling out innovative servicessuch as savings & Loans, Virtual Debit cards, Overdraft services, Groupsavings, E-payments and many more, which address the real needs of Tanzanianthereby enhancing financial inclusion and deepening.