Source: BancABC, Mama Money launch Border Hopper remittance service – NewsDay Zimbabwe
BY BUSINESS REPORTER
BancABC Zimbabwe, the local banking subsidiary of Pan African financial services group, Atlas Mara, launched the Border Hopper international remittance service on Tuesday, allowing Zimbabweans abroad to send money home.The remittance service was launched with South Africa to Zimbabwe transfers as the first corridor with plans to extend to other countries in the region. The facility, which was launched in partnership with Mama Money, leverages on the Bank’s agency relationship with Pick ‘n Pay and will allow Zimbabweans to send money through any Mama Money Agent in South Africa, including Pick ‘n Pay stores, to Zimbabwe through Border Hopper.
The funds can be collected at any one of over 40 BancABC kiosks in TM Pick ‘n Pay stores across the country.
Speaking at the launch, BancABC Zimbabwe CEO, Lance Mambondiani said:
“Just over a year ago we launched City Hopper, our domestic remittance service that has proven to be quite popular with our clients. Today, we are excited to extend this service across borders with the launch of Border Hopper”.
“We are grateful for the hard-working Zimbabweans across the world who support their families and contribute to the development of the economy in difficult times. We have seen the spike in remittance values and volumes under the hardships of the COVID-19 pandemic and we wanted to provide a fast, convenient and simple solution to allow our diaspora customers to do their transfers. What better way to do that than bringing the service to your backyard through Pick ‘n Pay’s nationwide network.”
Leanne Lancaster, Mama Money chief growth officer said: “We are operating in 54 markets and look forward to expanding our partnership into multiple countries. The partnership will create additional stakeholder value ensuring all organisations gain through the cross-functional opportunities.”
Malcom Mycroft the TM Pick ‘n Pay Zimbabwe managing director added: “We’ve picked the right partner in BancABC, a partner that is proactive to bringing value to the business by innovating as fast as we do”.
COMMENTS
People being cheated once again comrades. Deposit one US dollar in South Africa for your mother in Gokwe and she will be paid about 100 Zim dollars. Black market at 200 to one US dollar so big profits being made by Banc ABC and TM.
Think carefully before you send money to ZW comrades. Maybe use Western Union and insist on them paying out US dollars in ZW to your relatives.
It can be done I am told on good authority.