Sasai Money, a fintech venture of Cassava Technologies, has announced a strategic collaboration with Airtel Money to extend free financial transfers to additional African markets. This partnership is set to enhance the accessibility and affordability of money transfers across the continent, starting with Uganda and expanding to other key markets.
The newly introduced end-to-end solution allows users in the United Kingdom and South Africa to send money to recipients in Uganda without incurring any fees. This initiative represents a significant move towards reducing the costs associated with international remittances, making financial transactions more affordable and efficient for users.
Following the initial launch in Uganda, Sasai Money plans to expand the Zero Fees initiative to other high-traffic remittance markets served by Airtel Money. The next countries on the list include Ghana, Malawi, Nigeria, Kenya, and Zambia. This expansion aims to address the widespread need for cost-effective remittance solutions across Africa.
The Zero Fees initiative was first rolled out in May in partnership with Econet in Zimbabwe, and it leverages Sasai Money’s affiliation with Cassava Technologies, part of the Econet Group. The partnership ensures that recipients can withdraw their funds free of charge from their Airtel Money wallet, further enhancing the convenience and value of the service.
According to the World Bank, Africa received $100 billion in remittances in 2022, with informal remittance channels often surpassing the volume of formal transfers. Sasai Money acknowledges the risks associated with informal remittance channels, including potential losses for senders, and aims to bridge the gap between informal and formal money transfer systems.
Darlington Mandivenga, CEO of Sasai Fintech, highlighted the importance of this partnership, noting that it provides a critical gateway into one of Africa’s largest remittance markets. This collaboration with Airtel Money represents a significant step towards improving financial inclusion and ensuring safer, more reliable money transfers for Africans.
SasaiMoney #AirtelMoney #FinancialInclusion #Remittance #AfricanMarkets #ZeroFees #Fintech #MoneyTransfer #CassavaTechnologies #BankingInnovation
