HELLO Group, fintech solutions for immigrant workers worldwide, has forged strategic partnerships with Zimbabwean retailers, allowing recipients of remittances to collect funds locally.
Hello Group runs a money transfer service, Hello Paisa.
The retailers roped in are TM Stores and Pick ‘n’ Pay. The group has also struck a partnership with Telecash and Zimpost, giving locals a wide choice in collecting their money.
Analysts say Hello Group’s African venture highlights Hello Paisa’s successful innovation in money transfer solution. Its Zimbabwe footprint signifies Hello Group’s ongoing commitment to creating a competitive market in Africa, analysts say.
Hello Paisa managing director, Ahmed Cassim said money transfer services contribute substantially to a country’s economy.
“Not only is it an important source of household income for thousands of families, it serves as a key contributor to critical sectors such as education, entrepreneurship and healthcare,” Cassim said.
The Reserve Bank of Zimbabwe recently announced it was moving towards encouraging more remittances from Zimbabwean citizens living abroad.
“With the heart and soul of an entrepreneur, we’re continuously looking to bridge the financial gap for informal sectors. We know that this kind of tech-savvy innovation truly has the power to transform people’s lives and ease of use is at the core of this,” Cassim said.
Hello Group CEO Nadir Khamissa said while it might be a business opportunity for the organisation, they were “excited about the positive impact that we have made on the lives of Zimbabweans”.