Digital money transfer service WorldRemit has partnered with Vodacom Tanzania to enable nine million M-Pesa customers to receive money directly to their M-Pesa wallets from friends and family living abroad
The new service increases convenience for money transfer recipients in urban and rural areas of Tanzania as they can receive international money transfers directly to their phones, without the need for a bank account or internet connection.
Using the WorldRemit app, Tanzanians living abroad in over 50 countries, including the USA, UK and Canada, can send money home 24/7 in a few taps. This saves customers time and money as they do not have to travel to a traditional money transfer agent and pay expensive fees to send money home in cash.
Epimack Mbeteni, Vodacom Tanzania M-Pesa director, said, “This new partnership with WorldRemit enables us to tap into their global payments network, and help customers receive remittances into Tanzania from more countries around the world. It will enable families and friends in the country to conveniently receive money through M-Pesa from across the world. This is just one more way we are making our customers’ lives easier.”
Cynthia Ponera, country manager for Tanzania at WorldRemit, said, “Our money transfer service to Tanzania is growing by over 100 per cent year-over-year, and mobile money is the most popular way for our customers to send money to the country.”
According to the World Bank, migrants from sub-Saharan Africa sent US$46bn back home in 2018, a growth of 10 per cent compared to the previous year. Money sent back to families contributes to the sustainable growth of Tanzania’s economy, and is used for family essentials, such as healthcare, education and bills, as well as savings, investments and business ventures. The majority of money transfers to Tanzania are sent through banks, which often charge high fees and can take several days to process payments.
