Published On: Mon, Nov 7th, 2016

Telecel introduces 10% Diaspora incentive

 Harare-Mobile operator  Telecel Zimbabwe says  it has  introduced  a 10%  incentive to its Telecash registered users who receive  international remittances  from the diaspora.

The initiative is meant to promote the use of formal channels  in  diaspora remittances  as well as to grow Telecels’ base of registered Telecash customers.

Telecel, Head of Mobile Financial Services, Violet Masunda said  the effort  is  in line with government’s own efforts to encourage the use of formal channels to receive money from the diaspora.

“The decision to offer a 10% incentive is in line with government’s own efforts to encourage the use of formal channels to receive money from the diaspora. Unregistered recipients will continue to receive the 3% incentive which is already being offered by the Reserve Bank of Zimbabwe.

Telecel’s incentive is the first of its kind on the market from a private local entity other than government,” said Masunda.

The scheme which is currently the largest incentive on the market is intended for registered Telecash users who are receiving money from the diaspora.

Registered Telecash customers will receive an extra 10% with the money they receive from the diaspora via world remittance agents like Hello Paisa, Mukuru and Mama Money.

 The RBZ driven 3% incentive for world remittances which is called the Diaspora Remittances Incentives Scheme (DRIS) was launched in October this year and is expected to discourage Zimbabweans from using informal channels for international remittances to ensure that the foreign currency flows into the formal sector.

Telecel Zimbabwe was granted permission last year by RBZ to receive incoming international remittances directly into subscribers’ Telecash wallets through money transfer agents like Hello Paisa, Mukuru and Mama Money. zimbabwenewsday

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