Zimbabwe’s number two mobile network Telecel is offering mobile money transfers free of charge between Telecash users.

Telecash is Zimbabwean mobile operator Telecel's mobile money service, which was launched earlier this year.

And with its free offer, Telecel says registered subscribers can send any amount of money without incurring costs.

According to chief commercial officer Nkosinathi Ncube, this latest move by Telecel is a first in the market.

“This development brings real value to telecash subscribers as they now can send money for free. There is no charge at all for sending money to a registered telecash subscriber. Cash-in is free. Non-registered cash-out is free.

“This is a first in the market and a shift in the mobile money business,” he added.

On Monday ITWeb Africa reported that Zimbabwe has joined countries where more people use mobile money than have bank accounts.

A study conducted by FBC Securities in October last year found that only 14% of Zimbabwe's 13 million population have bank accounts (approximately 1.8 million Zimbabweans).

Meanwhile, the country's active mobile money accounts held by just two of the southern African country's biggest mobile network operators is around five million.

Econet says it has four million EcoCash users while Telecel Zimbabwe has said its Telecash user numbers had reached 600,000.