The Mobile Money Transfer Agents Association of Zimbabwe (MMTAAZ), a trade union representing third-party handlers of retail e-money transactions, reportedly has been formed by co-directors Francis Chinjekure and Thomas Muserepwa to address the concerns of contractors to Econet Wireless Zimbabwe, a subsidiary of South Africa-based telecommunications provider Econet Wireless Group; Telecel Zimbabwe, a joint venture of Egypt-based telecommunications provider Global Telecom Holding and Zimbabwean business consortium Empowerment Corporation; and NetOne, a mobile services provider owned by the government of Zimbabwe. The trade union is seeking higher returns for agents in addition to more agent participation in corporate policy making. Membership in MMTAAZ entails a monthly fee USD 2.00.
Mobile money services allow customers to deposit, withdraw and transfer funds via their mobile phones. Mobile money agents offer services such as cash upload and withdrawal.
As of 2013, Econet Wireless Zimbabwe reports approximately 8 million subscribers. As of 2014, Telecel Zimbabwe reports 2.5 million customers. Global Telecom Holding is controlled by Egypt’s Orascom Group and has 83 million subscribers in Africa, Canada and South Asia.
By Meraj Husain, Research Associate
Sources and Additional Resources
[1] Telecompaper: “Zimbabwean mobile money agents form trade association,” http://www.telecompaper.com/news/zimbabwean-mobile-money-agents-form-trade-association–995230?utm_content=buffer73c2a&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
[2] IT Web Africa: “Zimbabwe’s mobile money agents form association,” http://www.itwebafrica.com/mobile/323-zimbabwe/232400-zimbabwes-mobile-money-agents-form-association
[3] Econet Wireless: “Annual Integrated Report 2013,” http://b2icontent.irpass.cc/1685%2F148087.pdf?AWSAccessKeyId=1Y51NDPSZK99KT3F8VG2&Expires=1392975729&Signature=a2Nq5m6KBehFHjNzT%2FzDsQuM1Sw%3D
MicroCapital, January 28, 2014, “Central Bank of Zimbabwe Imposes 5% Tax on Mobile Money Services,” https://www.microcapital.org/microcapital-brief-central-bank-of-zimbabwe-imposes-5-tax-on-mobile-money-services/
MicroCapital, October 24, 2011, “Econet Wireless Zimbabwe, Telecel Zimbabwe Each Launch Mobile Banking Services,” https://www.microcapital.org/microcapital-brief-econet-wireless-zimbabwe-telecel-zimbabwe-each-launch-mobile-banking-services/
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda
- MICROCAPITAL BRIEF: M-Kopa Raises $250m to Expand Financing of Mobile Phones, Solar Equipment in Africa
- MICROFINANCE PAPER WRAP-UP: “Mobile Money, Interoperability and Financial Inclusion;” by Markus K Brunnermeier et al; published by National Bureau of Economic Research (NBER)
- MICROCAPITAL BRIEF: Verdant Capital Hybrid Fund Lending $9m to LOLC to Finance MSMEs in Africa
- MICROCAPITAL BRIEF: Patasente Agricultural Trading Platform Accesses Credit Line Via Verdant Capital for Onlending, Invoice Discounting in Uganda
