WorldRemit records surge in diaspora remittances

INTERNATIONAL money transfer service, WorldRemit, has seen a 40% surge in customers sending money to Zimbabwe for cash collection through ZB Bank.

In a statement, country director of Zimbabwe and head of sub-Saharan Africa at WorldRemit, Pardon Mujakachi said diaspora contributions are vital to upholding the education of children across Zimbabwe and they will continue working with their trusted partners in the country.

"As thousands of children in Zimbabwe go back to school, the contributions of the diaspora are vital to upholding the education of children across the country. Switching to digital
services to send money back home will make this money go even further," he said.

"We will continue working with our trusted partners, such as ZB Bank, so that we can guarantee Zimbabweans can collect their money as cash in USD when they need it most."
Commenting on the issue, ZB Bank chief executive officer, Ronald Mutandagayi said the group was excited with the progress made by WorldRemit so far.

"ZB will continue to leverage on our money transfer partners including World Remit as we also focus on our Diaspora Banking which we will be formally launching this year in line with our key strategic pillar to increase foreign currency earnings."

Earlier this year, WorldRemit launched international money transfers from South Africa.