Africa gets new mobile money system

Mr Herve Chomel, MoneyGram, Vice President Regional Sales Africa, has launched a new electronic payment system which enables VODACOM customers in Tanzania to receive money directly through a “M-Pesa,” accounts.

He noted that MoneyGram continues to grow throughout Africa as a result of forming strategic relationships with mobile network operators, banks, post offices and retailers, to bring added convenience to customers.

“Presently, MoneyGram operates in more than 200 countries with a network of more than 350,000 locations globally of which 25,000 are in Africa,” Mr Chomel stated at a media briefing to launch the new product in Dar es Salaam.

A statement copied to the Ghana News Agency in Accra explained that “Vodacom’s M-Pesa has already helped to increase financial inclusion for millions in Tanzania and this new relationship will make it more convenient for people in the most remote parts of the country to receive money from friends and family abroad”.

He said MoneyGram a global provider of innovative money transfer and payment services, and Vodacom, the leading telecom company in Tanzania signed the agreement recently.

Mr Chomel explained that Vodacom has more than seven million active M-Pesa users in Tanzania, who currently transact more than two trillion shillings each month.

He said the new offering makes it easier, safer and faster for Tanzanians living in the Diaspora to send money directly M-Pesa subscribers in the country.

He said “MoneyGram is excited to work with Vodacom to provide millions of customers with access to fast, reliable and secure options to send and receive money.”

Mr Jacques Voogt, Vodacom Chief Officer, M-Commerce said: “This new relationship with MoneyGram enables us to tap into the remittances coming into Tanzania every year.

“It will increase the ease and ability for families and friends to receive money through M-Pesa. This is just one more way we are going the extra mile for our customers.”

Mr Voogt said M-Pesa subscribers in Tanzania could receive funds from MoneyGram into their mobile accounts from customers in more than 120 countries 24 hours a day, seven days a week and 365 days a year subject to system availability.

He noted that customers in the United States could send funds to M-Pesa accounts quickly and securely from a MoneyGram location or through MoneyGram Online.

More than 500 organisations have integrated their payment systems with M-Pesa for collections, disbursement and distributor services.

M-Pesa was enhanced mid-last year to include a saving facility – M-Pawa. More than 1.5 million customers have subscribed to this service with TZS 6.8 billion/- retained in deposits and over TZS 500 million/- disbursed in loans every month.