WorldRemit, a London-based online money transfer service, has teamed up with Econet to launch instant mobile money transfers to Burundi.
The partnership will allow customers in 50 countries to remit money directly to Econet’s mobile wallet service EcoCash.
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The partnership further expands WorldRemit’s footprint in mobile money remittances by introducing the two million Econet Burundi subscribers to an alternative channel for remittances.
"With only 7% of the adult population of Burundi population banked, there are now more mobile money accounts than bank accounts in Burundi," said WorldRemit.
A World Bank study points out that remittances are estimated to have contributed $51m to Burundi’s economy in 2014.
WorldRemit senior mobile analyst Alix Murphy said: "Our partnership with EcoCash means that people will no longer have to send remittances through illegal channels or pay high fees for cash to be picked up at inconvenient agent locations. Burundians can now receive money transfers straight to their mobile phones, just like an instant message."
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