- Published on 27 November 2017
Leading online money transfer company, WorldRemit, has guaranteed its customers of United States Dollars in cash for collection at Steward Bank branches across Zimbabwe.
WorldRemit has been operating in Zimbabwe since 2010, and is taking the unprecedented step to source cash through its partner Steward Bank. Zimbabwean customers can transfer funds from countries around the world, the UK, Australia, Canada, US and Norway, using WorldRemit’s convenient, fast online service. (Herald)
This is a good initiative as it will result in an increase in remittances given that cash is guaranteed. Remittances play an important role as a source of financing and will significantly improve market liquidity. Remittances are also a catalyst for investment and economic growth by supporting small business start-ups.