Over 200 countries can send and receive money via Vodacom’s Tanzania M-Pesa; The mobile Money services continue to drive economic growth and financial inclusion in Africa. Tanzania’s leading mobile money service provider – Vodacom M-Pesa - has announced the expansion of its International Money Transfer service portfolio. Vodacom customers will now have the option and ability to easily transfer and receive funds from individuals across more than 200 countries worldwide.
This was said recently at an international day of family remittance event held in Dar es Salaam where stakeholders met to deliberate on the future of International Remittance post-COVID 19.
Speaking during a panel discussion on the same, Assistant Manager, Oversight and Policy at Directorate of National Payment Systems from Bank of Tanzania (BOT) Albert Cezari said the national bank has increased limits on digital transactions and reviewed balances of mobile wallets in a bid to provide relief and ensure continuity of services as part of measures taken amidst COVID-19.
On his part, Vodacom Tanzania PLC Managing Director Mr. Hisham Hendi, said that international remittances make possible people and small businesses to stay connected irrespective of geography. He further pointed out that international remittances continue to transform the lives of thousands of Tanzanians through facilitating payments in education, health, and various business segments which is why Vodacom M-Pesa has aimed to continue providing a platform for Tanzanian diaspora to effectively participate in socio-economic activities which will contribute to the overall development of the country.
“We pride ourselves for being enablers in the payment system by facilitating cross border trade within the region for the efficient and seamless sending and receiving of funds, from anywhere around the globe through M-Pesa International Money Transfer Service.’ He said.
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Vodacom M-Pesa has broadened its portfolio of partnerships and countries over the past few months to widen its Money transfer service worldwide. At the global stage, partners include MoneyGram, WorldRemit, Remitly, and JubaExpress, all of whom enable customers to receive money from over 200 countries across the World directly into their M-Pesa wallet.
Pan African partnerships include Safaricom, MTN, EcoCash, and Mama Money, which enable customers to send or receive money from Kenya, Uganda, Zambia, Burundi, and South Africa.
"With such a huge portfolio of international Money transfer partners, the world is a village with M-Pesa. We thank our customers for their patronage and we remain committed to delivering on our vision to lead Tanzania into the digital age and change lives through technology” He concluded.
Peter De Caluwe, CEO- Thunes praised the move saying such partnerships and innovations support the true African spirit because African countries have always been connected through the daily movement of people, goods, and services. International Money Transfer services are critical to the African economies as they facilitate the inflow of foreign currency into these countries which has a direct bearing on the social and economic welfare of Africans”.
“Whilst the importance of mobile payments to financial inclusion in developing markets cannot be overstressed, the M-Pesa IMT service goes the extra mile by allowing previously excluded to send and receive money across borders affordably. Thus our partnership with Vodacom M-Pesa aims at increasing the reach of international money transfers’.
According to World Bank Figures, Tanzania's recent remittances stood at $430 million, an increase of $25 million from 2019. The sum represents 0.8 percent of the country’s GDP.
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