EcoCash, Zimbabwe’s largest fintech platform, has launched a new international money transfer service that allows customers to send money from Zimbabwe to other countries — a shift that reflects the growing need for outbound remittances as Zimbabweans increasingly support families abroad.
While remittances from abroad have traditionally been a lifeline for families back home, the flow of money is increasingly going in both directions. Money transfer services have traditionally focused on inbound remittances. Now, EcoCash is stepping up to offer outbound transfers too, allowing users to send money to those in the diaspora.
“The needs of our customers are evolving and this new service will address that,” EcoCash says in a statement.
Zimbabwe has a large diaspora, and people at home now increasingly seek secure ways to send money abroad for upkeep, education, businesses settling cross-border payments, and individuals covering healthcare and travel costs. EcoCash customers can send money to destinations such as South Africa, Zambia, Botswana, Kenya, Malawi, Rwanda, the DRC, Ghana, Lesotho, Uganda, and China (Alipay).
The launch marks a bold step in the evolution of digital remittances in the country, as EcoCash shifts from being solely an inbound remittance platform to one that offers seamless outbound transfers.
“EcoCash users will now be able to send money directly to a recipient’s bank account or their mobile wallet,” EcoCash says. A customer in Zimbabwe, for example, can send money directly into Safaricom’s Mpesa wallet in Kenya.
According to EcoCash, South African banks have already been activated on the platform, with additional destinations in Europe and Asia expected to go live soon.
The launch is expected to disrupt the dominance of traditional money transfer operators, who often require recipients to visit physical agents to collect funds. EcoCash’s digital-first approach, which enables direct transfers to bank accounts or mobile wallets, is designed to offer greater convenience, faster processing times, and reduced transaction costs.
To use the service, EcoCash said customers should dial *151#, select “Diaspora Services,” choose “International Money Transfer” and follow the easy prompts directing them to send money directly to a mobile wallet or to a bank account in the destination country.
