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World Remit guarantees cash pick up in Zim

26/11/2017 00:00:00
by Business Reporter
 
Steward Bank CEO Lance Mambondiani
 
RELATED STORIES

HARARE: World Remit has assured users of its online money transfer service that it will take every step necessary to ensure cash is available at Steward Bank outlets.

The assurance comes at a time World Remit customers have of late been failing to access cash from its cash out points.

The company said it was making “unprecedented” efforts to source cash through Steward Bank as its partner to match growing demand from customers ahead of the festive season. 

“We know that remittances are a mainstay for families throughout Zimbabwe and they are especially important as Christmas approaches.

“Our customers trust us to deliver their hard-earned funds quickly and reliably which is why we are taking this unprecedented step to source cash,” the chief executive officer (CEO) Ismail Ahmed said this Friday in a statement.

Steward branches in Harare, Bulawayo, Mutare, Masvingo and Gweru are the listed pay out outlets.

The CEO of Steward Bank, Lance Mambondiani, said diaspora remittances are a critical component of Zimbabwe’s economy.

“Steward Bank is excited at this initiative by World Remit which is aimed at increasing the convenience for our transacting customers,” he said.

“Diaspora remittances play a significant role in the development of our economy and initiatives such as these have a significant impact in promoting diaspora remittances.”       

World Remit has been operating in Zimbabwe since 2010 and is available in over 50 countries and 148 destinations including the UK, Australia, Canada, US and Norway.

Since starting its operations in Zimbabwe, the company has completed over 1,7 million transactions from the diaspora community.    

The platform is among a few others providing an option to Zimbabweans who receive money from abroad as bank queues and empty automated teller machines have become a permanent feature of the biting cash shortages.

The introduction of the bond notes a year ago has failed to yield the expected results with the surrogate currency having lost value significantly against the US dollar.



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