Business Wire

WorldRemit Sees Remittances to Zimbabwe Double in Six Months and Introduces New Retail Partnership With OK Zimbabwe

Share

Earlier this year, the World Bank forecasted that in the wake of the Covid-19 economic crisis, remittance flows to Sub Saharan Africa would fall by 23.1%. However today, WorldRemit, the global online money transfer service has reported that the demand for their remittance services to Zimbabwe continues to grow at an accelerated rate and has doubled in the last six months for the company.

The company reports that this accelerated growth is driven by the number of cash collection points being made available during Covid-19. Key partnerships have been formed with companies such as Mukuru and more recently OK Stores to increase its customer footprint into both rural and peri-urban areas and to further extend trading hours.

Pardon Mujakachi, Head of Sub Saharan Africa and Country Director for Zimbabwe at WorldRemit said “We are continuously looking at how we respond to the increasing demand for our product in the diaspora and innovate payout options for customers at home. The customer demand creates opportunity for growth and the expansion of our footprint especially in the hard to reach areas of Zimbabwe. Our aim is to ensure that everyone everywhere has access to our service”.

Zimbabweans in the diaspora are driving the exponential growth as they increasingly embrace the benefits of the digital platform offered by WorldRemit. The money transfer service is said to offer the lowest fees to Zimbabwe from over 50+ send countries including the UK, USA, Canada, Australia, New Zealand and South Africa. “Our digital model offers customers the convenience to transact on the go whilst providing a fast and affordable experience for sending money home to loved ones.” Mujakachi added.

In partnership with OK Zimbabwe and powered by Countitouch Technologies, WorldRemit has launched a new payout service that allows Zimbabweans to now receive remittances, instantly shop and collect cash from across 64 OK Zimbabwe store locations. “This retail partnership with OK Zimbabwe - powered by Countitouch Technologies is a first of its kind for us. Our first retail partner offers a cash guarantee and with the convenience, speed and security we offer our customers, now everyday is a remittance day. The OK Zimbabwe retail network is the widest in the country and offers us the opportunity to expand the depth of our remittance services for Zimbabweans.” said Mujakachi.

OK Zim has a footfall of approximately 70million people visiting their retail stores per month, six days a week. Currently open from 8am to 6.30pm, WorldRemit customers can send remittances 24/7 and their recipients can receive cash with more convenience and choice across a network of over 80 branches.

Post pandemic, OK Zim stores will extend its trading hours 8am to 8pm, 7 days per week. Mujakachi adds, “Our extensive cash collection network, flexible cash collection hours and lower fees, offer value for money to our customers. This proves us to be the most affordable means of sending money to Zimbabwe.”

-ends-

About WorldRemit

WorldRemit is a leading fintech providing international money transfer services. We disrupted an industry previously dominated by offline legacy players by taking international money transfers online - making them safer, faster and lower-cost. We currently send from 50 to 150 countries, operate in 6,500 money transfer corridors worldwide and employ over 1,100 people worldwide.

On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom with a global presence in the United States, Canada, South Africa, Japan, Singapore, the Philippines, Australia and New Zealand.

www.worldremit.com

About OK Zimbabwe

OK Zimbabwe Limited has been in existence since 1942, and has established itself as a customer-oriented retail organization providing comprehensive access to a broad range of retail products and allied services developed in response to its customers' requirements for convenience and value.

The Group is a leading supermarket retailer whose business covers three major categories, comprising groceries, basic clothing and textiles and houseware products. The groceries category includes dry groceries, butchery, delicatessen, takeaway, bakery, provisions and fruit and vegetable sections. OK Zimbabwe Limited trades under three highly recognised brand names, OK Stores, Bon Marche’ Stores, and OKmart. The diverse distribution channel allows the Group to target all segments of the market.

OK Zimbabwe Limited has maintained its position as one of the dominant supermarket retailers in the country’s competitive retail sector. The OK Stores brand boasts 50 outlets nationwide in the major towns and cities around the country. The OK Stores cater for the widest range of customers within the OK Zimbabwe stable.

With the partnership with Contitouch Technologies through Conticash FX we are now able to deliver convenience to millions of Zimbabweans by providing them WorldRemit services within our stores across the country.

Contact information

For PR information please contact:
Genevieve Dowokpor
gdowokpor@worldremit.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Celltrion Completes Acquisition of Primary Care (PC) Product Assets for Asia Pacific Markets from Takeda Pharmaceutical Company Limited1.12.2020 00:00:00 CETPress release

Celltrion (KRX:068270) has completed the acquisition of select primary care assets from Takeda Pharmaceutical Company Limited (“Takeda”) in Asia Pacific, igniting efforts to strengthen its R&D capability in the global small molecule pharmaceuticals business. In June, the firms announced an agreement under which Celltrion would acquire 18 "Primary Care" product assets in the Asia Pacific area for a total of USD 278 million inclusive of milestone payments from Takeda. Celltrion proceeded with the acquisition process through its newly established subsidiary in Singapore, "Celltrion Asia Pacific Pte, Ltd."1 ("Celltrion APAC"). Upon completion of the acquisition, Celltrion APAC will assume the ownership of the rights to patents, trademarks, and sales of 18 products sold in 9 markets including South Korea, Thailand, Taiwan, Hong Kong, Macau, the Philippines, Singapore, Malaysia, and Australia. The 18 products include prescription medicines such as Nesina (diabetes), Actos (diabetes), and Eda

Takeda Completes Sale of Select OTC and Non-Core Assets to Celltrion in Asia Pacific1.12.2020 00:00:00 CETPress release

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the completion of its previously-announced sale of a portfolio of select products to Celltrion Inc. (“Celltrion”) for a total value of $278 million USD inclusive of milestone payments. The portfolio includes 18 pharmaceutical products and over-the-counter (OTC) products sold in Asia Pacific, which is part of Takeda’s Growth & Emerging Markets Business Unit. This divestment agreement was first announced in June 2020. The divested portfolio includes pharmaceutical products and OTC products in the Cardiovascular, Diabetes and General Medicine therapeutic areas, sold in Australia, Hong Kong, Macau, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand. The products, while addressing key patient needs in these countries and territories, are outside of the business areas Takeda has chosen as core to its global long-term growth. As part of the deal, Takeda will continue to manufacture the portfol

Ipsen Receives FDA Fast Track Designation for Investigational Irinotecan Liposome Injection (ONIVYDE ® ) as a Second-Line Monotherapy Treatment for Small Cell Lung Cancer (SCLC)30.11.2020 22:58:00 CETPress release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced the United States Food and Drug Administration (FDA) has granted the company Fast Track designation for irinotecan liposome injection (ONIVYDE®) in study patients with small cell lung cancer (SCLC) who progressed following a first-line platinum-based regimen, reflecting the unmet medical need. ONIVYDE® is currently approved in the United States and in Europe in combination with fluorouracil (5-FU) and leucovorin (LV) for the treatment of patients with metastatic adenocarcinoma of the pancreas after disease progression following gemcitabine-based therapy. ONIVYDE® is not indicated as a single agent for the treatment of patients with metastatic adenocarcinoma of the pancreas. An ongoing Phase III randomized study (RESILIENT; NCT03088813) trial is being conducted to assess the efficacy and safety of investigational irinotecan liposome injection (ONIVYDE®) as a monotherapy for SCLC study patients who have progressed on or a

Amblin Partners Announces New Multi-Year Film Distribution Partnership With Universal Filmed Entertainment Group30.11.2020 22:00:00 CETPress release

Amblin Partners today announced a new multi-year film distribution partnership with Universal Filmed Entertainment Group, as well as a series of new agreements that chart a clear course for the next phase of growth for one of the world’s leading independent film and television studios. The new deals were announced this morning by Steven Spielberg, Amblin’s Founder and Chairman. Remarked Spielberg: “My decades-long relationship with Universal truly transcends any single business deal, and to once again renew our corporate vows reaffirms that Universal is Amblin’s home. In addition to Universal, we are blessed to continue forward with a global family of partners, including Alibaba, eOne and Reliance, each of which has supported us for many years and enabled our storytelling to touch the lives of millions of moviegoers around the world. I would also like to extend my deepest gratitude to my dear friends Jeff Skoll and David Linde for an incredible run as formal partners; and my congratula

Little Cinema Taps Verimatrix To Secure Hollywood’s Virtual Premiere Events30.11.2020 17:45:00 CETPress release

Regulatory News: Verimatrix, (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced that New York-based Little Cinema deployed Verimatrix Watermarking and Multi-DRM technologies for its virtual premieres and previews. A groundbreaking digital studio, Little Cinema has partnered with Netflix, ABC, CBS, HBO Max, and Warner Media to produce state-of-the-art virtual premiere events for an industry that used to rely solely on in-person debuts. To fulfill the enhanced protection requirements for this high-value early-release content, Little Cinema looked to Verimatrix and its Secure Cloud. These innovative and highly-interactive virtual streaming events have made waves in Hollywood, earning the studio recognition in BBC News, Vogue, Variety, Vanity Fair, The Hollywood Reporter, and more. “Verimatrix supplies us with the needed anti-piracy protections and overall peace of mind that Hollywood studios demand when switching to virtual events

Emory University to Host a Live Webcast With His Holiness the Dalai Lama30.11.2020 16:39:00 CETPress release

The Center for Contemplative Science and Compassion-Based Ethics at Emory University will host a live webinar with His Holiness the Dalai Lama on Tuesday, December 8, 2020. A discussion titled “The Necessity of Compassion for the Survival of Humanity” will feature the Dalai Lama in conversation with Melani A. Walton, co-founder of the Rob and Melani Walton Foundation, and Dr. Sanjay Gupta, chief medical correspondent for CNN. (For speaker photos click here.) The webcast begins at 10:30pm ET on Dec. 8, 2020 (Dec. 9 @ 9:00am India Standard Time) and will be simulcast in 14 languages. It is FREE of charge and open to anyone who’d like to participate. Advance registration is encouraged at https://compassionshift.emory.edu. “With so many urgent concerns impacting our world, the time is right to start a global conversation about the importance of compassion,” said Lobsang Tenzin Negi, executive director of Emory University’s Center for Contemplative Science and Compassion-Based Ethics. “For

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom