To encourage financial inclusion in Zimbabwe, Telcel has dropped charges on Telecash transfers for its subscribers, making it the most affordable mobile money transfer service in the Southern African country.
According to Telcel, customers will not pay for receiving and depositing money via Telecash.
Tariff levied on sending money to non-subscribers has also been reduced though the mandatory 5 cents placed by the regulator remains. Registered Telecash subscribers who receive money via mobile will now pay between 10 cents and $4.90 for cash between $1 and $500.
Chief Commercial Officer at Telcel Nkosinathi Ncube said this development brings real value to Telecash subscribers and a shift in the sector’s competitive landscape.
Telcel is considered the markets newest baby as it is the last to launch a mobile money service in the country. But the telco is keen to take a dominant position in the growing financial sector.
In its first 6 months, the firm said it had been able to service about 600,000 subscribers; signifying successive growth and success of its m-money service. (VENTURES AFRICA)