Telecel Launches Mobile Money Service in Zimbabwe

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Zimbabwe's Telecel has launched its own mobile money transfer service, branded as Telecash, which it said would allow subscribers to use mobile phones to send money to anyone on any network, pay bills and pay for groceries and other goods and services.

Telecel's chief commercial officer Ashraf El Guindy said the company was coming to the market with a strong product.

"We have associated ourselves with the best in the industry," he said, adding that Telecel's technical partner for Telecash was Obopay and that its banking partners included Afrasia, CBZ and ZimSwitch, which provides links with most of the country's banking institutions.

Telecel Zimbabwe mobile financial services director Nkosinathi Ncube said Telecel had taken its time to launch Telecash in order to come to the market with a mobile financial service that was more developed, enhanced and relevant than other mobile financial services.

He said some of the strong features of Telecash were its interoperability, which enabled subscribers to send money to any other network and to banks. Another strong feature was its affordability. "Everybody will be able to afford it," he said.

Telecash was being launched with more than 1,600 agents already registered throughout the country, he added.

"In terms of coverage, we have focused on where people are. Our network covers 85 percent of the country's population. All those people will be able to access Telecash," he said.

He emphasised that Telecash was a secure mobile financial service. It had been fully audited by KPMG and approved by the central bank.

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