Hisham Hendi, Vodacom Tanzania CEO lauds the move as crucial support for the remittance ecosystem. The mobile Money services continues to drive economic growth in Africa

Tanzania’s leading mobile money service provider – Vodacom M-Pesa – on the 16^th of June, 2020 announced the expansion of its International Money Transfer (IMT) service portfolio.  Vodacom Tanzania customers will now have the option and ability to easily transfer and receive funds from individuals across more than 200 countries worldwide.

Vodacom Tanzania CEO, Hisham Hendi has noted that this expansion of the M-Pesa services in Tanzania comes at a crucial time where the economic effects of the COVID-19 pandemic have been felt worldwide. “Vodacom M-Pesa Tanzania going global is our way of adding efficiencies to our customers’ remittance ecosystems. Our customers can now send and/or receive money from 200 countries through their M-Pesa account from the comfort of their homes.”

The announcement of the expansion of Vodacom Tanzania’s IMT services was made at an international day of family remittances 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, Albert Cizari Assistant Manager, Oversight and Policy at Directorate of National Payment Systems from Tanzania’s Central Bank (BOT) said the Bank of Tanzania has increased limits on digital transactions and reviewed balances of mobile wallets in bid to provide relief and ensure continuity of services as part of measures taken amidst COVID-19.

On his part, Mr. Epimack Mbeteni, Vodacom’s M-Commerce Director 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.

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 deliver on our vision to lead Tanzania into the digital age and change lives through technology” concluded Mr. Mbeteni.   

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 daily movement of people, goods and services. “International Money Transfer services are critical to the African economies as they facilitates 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 an 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”.

About Vodacom Tanzania:

Vodacom Tanzania Plc is the country’s leading mobile operator and mobile financial services provider. We provide a wide range of communication services for consumers and enterprise – including voice, data and messaging, video, cloud and hosting, mobile solutions and financial services – to over 14.1 million customers.  Vodacom Tanzania Plc and its subsidiary companies are part of the Vodacom Group registered in South Africa, which is in turn, owned by Vodacom Group Plc of the United Kingdom. It has been registered on the Dar es Salaam Stock Exchange (DSE) with registration number ISIN: TZ1886102715 Stock name: VODA. For further information, please visit our website: www.vodacom.co.tz

About Vodacom M-Pesa Tanzania

Vodacom M-Pesa is Tanzania’s largest mobile financial service introduced by Vodacom Tanzania PLC in 2008. Now GSMA certified and with over 8 million customers, M-Pesa has significantly contributed towards financial inclusion and economic activity in the country. Customers deposit and withdraw money from their M-Pesa wallets through over 106,000 agents across the country. The M-Pesa ecosystem connects businesses, banks and government agencies making digital payments possible. To date, M-Pesa continues to be the market leader in mobile financial services, rolling out innovative services such as savings & Loans, Virtual Debit cards, Overdraft services, Group savings, E-payments and many more, which address the real needs of Tanzanian thereby enhancing financial inclusion and deepening.