The partnership between EcoCash and OK Zimbabwe is expected to bring convenience and ease of movement of funds across the country as shoppers now have an opportunity to cash-in and cash-out United States dollars (US$) in a secure environment.
This was after Zimbabwe’s two leading brands recently tied up a partnership that has seen EcoCash extending its quick, convenient, secure and reliable money transfer service to even more people in the country.
EcoCash is at the forefront of promoting financial inclusion and economic growth as it steps up its partnerships with various merchants and global money transfer agents to increase the flow of remittances into Zimbabwe.
As part of the agreement, more than 100 OK Zimbabwe Stores, Bon Marche Stores or OKmart branches countrywide will now provide US$ cash collection points to EcoCash customers, making it more convenient for recipients to receive money.
This is in addition to hundreds of Econet shops and Steward Bank branches where EcoCash customers can also cash-in and cash-out money in their mobile wallets.
“When our customers receive US dollar remittances in their EcoCash wallet from their friends, family and loved ones, either in Zimbabwe or living abroad, they now have more options of where they can cash-out the funds,” said EcoCash.
Zimbabwe’s largest mobile money platform said the synergy with OK Zimbabwe brings immediate value to its customers and alleviates their day-to-day challenges with user-friendly solutions.
“Since we launched our domestic foreign currency remittance service early this year, we have witnessed an increase in demand as more customers are using the service,” said EcoCash.
After cashing-out, EcoCash customers have the convenience of buying groceries, basic clothing and textiles and houseware products in OK Zimbabwe stores.
The supermarket chain has a variety of food categories, including dry groceries, butchery, delicatessen, takeaways, bakery, provisions and fruit and vegetable sections.
Over the past 11 years, EcoCash has demonstrated that it offers a safe and reliable way to send and receive cash. This has over the years breathed new life into the local economies of remote areas around the country.
Like many developing countries, Zimbabwe has millions of breadwinners who live and work in urban economic hubs but have extended families back in the rural areas.
With many cash-collection points across the country, people no longer have to risk giving an envelope full of cash to an intermediary — like a bus driver — and asking them to deliver it to a recipient in a remote area.
Customers can now simply walk into any OK Zimbabwe supermarket, Econet shop or Steward Bank branch, cash-in the money and send it to any recipient across the country.
To collect the money, recipients only need to present their IDs and messages confirming the amount sent.
There are no charges for cash-in.