Big boost for cross-border payments from UK to SA, Zim

A partnership between an African technology company, Sasai Remit, and a women’s network has led to a faster and more secure cross border payment channel from the United Kingdom to South Africa and Zimbabwe.

African digital money transfer provider Sasai Remit and UK-based Qoki Zindlovukazi says their newly-announced partnership will also provide a practical alternative to the traditional ways of managing remittances.

According to a media release the partnership has enabled both organisations to empower thousands of Zimbabweans to use a fintech platform, described as “safe and secure”, to seamlessly transfer funds to family and friends in South Africa and Zimbabwe.

“This partnership is a testament to our continued commitment to bringing a safer and more accessible platform to people working across the world to send money back to their loved ones or invest in their home countries,” remarks Darlington Mandivenga, Sasai Fintech chief executive.

“We want to introduce our convenient and inclusive transfer service to more users, and we are excited to partner with Qoki as an initiative that will help us realise this objective. As a business of Cassava Technologies, we always endeavour to ensure that our initiatives enable social mobility and the economic prosperity of individuals and businesses across the continent through increased access to the internet and technology.”

Easy-to-use mobile app

Mandivenga stresses that the partnership will facilitate faster, simpler and secure cross-border payments for Qoki members when sending money and making payments to Zimbabwe or South Africa.

Meanwhile, market analysts indicate that the partnership between Qoki and Sasai Remit offer a much-needed solution to increase access to and use of remittances received by households for greater financial inclusion and investment opportunities.

Statistics from the Reserve Bank of Zimbabwe show that diaspora remittances surged from about US$$1 billion in 2020 to US$1.4 billion in 2021 as the country hit a record high foreign currency inflows of US$9.7 billion during the same period.

Sithule Tshuma, who founded Qoki to bring diaspora-based Zimbabwean women from Matabeleland and Midlands together and invest back home, says her organisation is honoured to partner with the digital money transfer provider.

“The partnership with Sasai Remit makes it easy for our members living in different countries abroad to send money to their families. They don’t have to wait for hours in the agency offices anymore because the mobile application makes the transfer instantly.”

Qoki held its inaugural, day-long conference in Birmingham, UK last week. Its aim was to inspire both emerging and experienced business people to explore new business investment opportunities.

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