Sasai Remit one of Africa’s leading digital money transfer providers which is a business of Cassava Technologies, Sasai Rehas entered into a strategic partnership with a United Kingdom-based women’s networking and empowerment organisation, Qoki Zindlovukazi that will allow a faster and secure cross border payment channel from the United Kingdom to Zimbabwe and South Africa.
The partnership is also expected to provide an effective and practical alternative to the traditional ways of managing remittances.
In a press statement, Sasai Fintech chief executive officer (CEO) Darlington Mandivenga said the partnership will enable both organisations to empower thousands of Zimbabweans to use a safe and secure fintech platform 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. “
“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,” said Mandivenga in a press statement.
The partnership will come into a world dominated by regional and international money transfer competitors like Mukuru and Western Union.
The country’s remittances have been on the upward spree since the times of dolarisation with 2021 on record of US$1.4 billion as the country reached a record high in foreign currency inflows of US$9.7 billion during the same period.
“It will also provide an effective and practical alternative to the traditional ways of managing remittances,” said Mandivenga.
Remittance growth between 2018 and 2020
“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,” said Sithule Tshuma the founder of Qoki.
Remittance transfers are fast becoming the preferred means of sending money home as they offer real-time transactions that are simple and safe. The World Bank projected a 2.6% rise in remittance flows to Sub-Saharan Africa in 2021 from US$42 billion in 2020, supported by improving prospects for growth in high-income countries.
An estimated 2.5 to 3 million Zimbabweans live abroad and each year send a significant amount of money to support their family back home.
Meanwhile, Qoki held its inaugural business conference on 9 April 2022 in Birmingham with a primary aim to inspire both emerging and experienced business people to explore new business investment opportunities.
Formed in 2016, Qoki Zindlovukazi boasts over 10,000 members across the world and invested over US$8 million into various sectors of the economy since 2017 including farming, health, energy and property sectors in Zimbabwe and South Africa.
Since its establishment, Qoki developed housing stands in Bulawayo and constructed houses in Zimbabwe and South Africa.
The organisation is currently involved in several projects, including borehole drilling in Matabeleland and the Midlands, construction of a school and a clinic in Bulawayo, as well as setting up a tomato canning factory in South Africa. Qoki is further into trucking and logistics.
About Sasai Remit
Sasai Remit is a subsidiary of Sasai Fintech, a business of Cassava Technologies which is a leading Pan-African technology group licences in the UK and South Africa that allow migrants to remit to Africa and the rest of the world.
It has a multi-channel service that encompasses digital money transfers (mobile app, web, USSD) from the UK and South Africa to a wide range of destinations across Africa and Asia
The service provides various options for beneficiaries to receive their funds through mobile wallets, bank accounts, or cash pick up points at very competitive rates.
