Tanzania Mpesa accounts will receive funds from over 50 countries as Vodacom Tanzania partners with digital money transfer company WorldRemit.
In a statement, Vodacom Tanzania says its 10 million Mpesa users will receive money directly to their e-wallets from friends and family abroad using the WorldRemit app.
This partnership offers an easier and cheaper alternative to receiving cash from abroad by cutting the transaction process, meaning families receive more of the money straight into their M-Pesa wallets.
Vodacom Tanzania M-Pesa Director, Epimack Mbeteni
World Bank reports indicate that African immigrants remitted $38 billion back home in 2017 and estimated $39.6 billion in 2019.
WorldRemit connects over 160 million accounts across 29 countries. In Tanzania, it offers mobile money service, bank transfer, cash pickup and mobile airtime top-up.
For instance, WorldRemit allows transfers to mobile wallets in Tanzania for Airtel Money, Tigo Pesa, and EzyPesa customers. It also provides cash collection via registered agents and traditional banking accounts.
WorldRemit’s Regional Director for East and Central Africa Sharon Kinyanjui applauded the move because it reduces sending charges. She added, “the launch of MPESA and WorldRemit partnership will reduce the sending fees for countries like US, UK, Sweden and South Africa because all transactions are digital,”.