Zimbabwean telecom firm, Telecel is negotiating a potential partnership deal with South African based remittance startup Mama Money to send remittances on the TeleCash mobile banking platform.
If successful, recipients in Zimbabwe will have the option to send money straight to their TeleCash mobile money wallet.
Amid turbulent economic conditions, Telecel has reduced tariffs on its mobile money platform TeleCash.
Mama Money has partnered with CABS in Zimbabwe, a subsidiary of Old Mutual, to send remittances on its Textacash service.
According to Mama Money founder and director Raphael Grojnowski a deal with Telecel will expand its payout network. "This also represents an opportunity to promote the use of mobile money, mobile banking and mobile payments. After all, cashless electronic payment systems are the future. We will be launching our connection to the Zimbabwean TeleCash mobile money wallet in the next few weeks."
Grojnowski adds that the company aims to reduce transfer costs and "help Zimbabweans in SA send more money home."
Mama Money has grown its network of agents in South Africa from 20 over 70, and, according to co-founder Mathieu Coquillon is targeting 1,9 million documented Zimbabweans in South Africa.
Telecel had not responded to requests for comment at the time of publishing.
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