People in diaspora will now have a wider choice of transferring money, when remitting cash to their relations back home following the establishment of a business partnership between Opportunity Bank Malawi (OBM) and Mukuru International Transfers.
Under the agreement, both customers and non-customers of OBM, popularly known as Banki Yanga will be able to receive cash from friends and relatives in diaspora from selected OBM branches through Mukuru International Money Transfers.
Mukuru is a South African based remittance company focusing on the Southern African diaspora. It facilitates money transfers originating from South Africa, United Kingdom, European Union and Canada to Botswana, Kenya, Lesotho, Mozambique, Zimbabwe, Zambia and lately Malawi.
Speaking during the unveiling ceremony of the agreement at OBM head office in Lilongwe last week, OBM’s deputy chief executive officer Bernard Mkandawire assured Mukuru users of convenient and speedy services.
“OBM’s branches are scattered across Malawi and we are present even in rural areas. This brings greater access to remittances for the Malawi population and significantly cuts down travel costs and time for rural based persons receiving money from abroad,” said Mkandawire.
Mkandawire reported that the bank has so far selected 12 of its 20 branches across Malawi, where people can receive money and that arrangements were being made to increase the number of branches.
The selected branches include Mangochi, Mzuzu, Karonga, Lilongwe, Malangalanga, Kasungu, Ndirande, Mponela, Zomba, Mchinji, Limbe and Salima.
Mukuru marketing officer Peggy Mhone, who represented the company at the unveiling ceremony said they chose to partner with OBM because it is a bank that offers financial inclusion for high, middle and low income earners. She further said OBM was an established bank with good reputation.
“Our focus is on providing an easy, quick and safe service of sending money across Africa and our status as the number one money transfer company in South Africa is testament to our great customer service. We work with various partners in Africa and we are glad today to partner with one of the most reputable banks in Malawi,” said Mhone.
According to Mhone, both the sender and receiver of money through the Mukuru service are notified by SMS once the funds have been sent and given details on how to collect the cash on the part of the receiver.
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