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EcoCash agents to start issuing out US dollars

by Staff reporter
07 Mar 2020 at 07:20hrs | Views
EcoCash agents country-wide will soon begin issuing out United States dollars to locals receiving money from abroad through Cassava Fintech International (CFI)'s Sasai Remit platform.

The development comes at a time when Ecocash agents which used to cash-out the greenbacks before the bond notes era are struggling with cashing out of the local currency owing to the cash crisis Zimbabwe is in.

Launched in August last year, Sasai among other things allows users to remit money to many parts of the world at lower charges.

Cassava International Remittances general manager, Shepherd Hondoyemoto, who said Sasai's international remittances had brought great relief to Zimbabweans living in the Diaspora wishing to remit funds home, added Ecocash agents would be soon disbursing US dollars.

"So you will see in the next coming couple of days to weeks, those key constituents, those, those key districts will have agents representation and they will still be offering US dollar cash, not bond," said Hondoyemoto.

"Every remittance, you will get it in US dollar cash."

He said that would ensure that people living in rural areas and other places far away from towns and cities do not have to travel long distances to access their cash from abroad.

"We said the most important thing is to go to that model where we are covering every part of the country," he said.

"Our services should be at your arm's length."

He said there has been an increase in the number of Zimbabwean sending money home via Sasai Remit.

"The coming on of Sasai with its #RemittanceFeesMustFall offer has been very well received by Zimbabweans across the globe, and this is evidenced by the increase in remittance volumes we have seen coming in via Sasai," Hondoyemoto said.

At its introduction, the platform offered free charge on remittances for 30 days after which it moved to a mere 2,5 percent.

Source - cite.org

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