TNM Mpamba partners Mukuru international money transfer service: Partnership provides for investment in Mpamba Fesa
Malawi’s premier mobile network service provider TNM today proudly announces the launch of a partnership with Mukuru, an international money transfer service, which will allow both remittances and investment using the Mpamba platform.
MUKURU is one of Africa’s fastest growing international money transfer services. Money transferred through MUKURU on the Mpamba platform can also be invested with Old Mutual using the Mpamba Fesa arrangement.
Announcing the partnership, Chief Commercial Officer Daniel Makata said TNM Mpamba registered customers have an opportunity to receive money from abroad sent through MUKURU straight into their Mpamba wallet. Currently, the service will allow TNM Mpamba customers to receive money from South Africa and will be expanded to include the UK and Europe in the near future.
“This is a continuation of the launch of exciting products using our mobile money platform, Mpamba. The beauty about the partnership with Mukuru is that it is more than just a money transfer service, but also an investment medium as money remitted can be escrowed in Mpamba Fesa to gain interest,” he said.
Makata said the partnership allows for recipients of MUKURU money transfers in Malawi to easily collect cash sent at any of TNM’s Mpamba agents across Malawi. This brings greater access to remittances for the Malawi population and significantly cuts down on the travel time and costs.
MUKURU’s Head of Marketing, Michael Cook said, “Mukuru’s partnership with TNM Mpamba really gives the people of Malawi the best opportunity to receive money instantly and directly to them. With TMN Mpamba, the money goes to you and there is no need to travel long distances for collections. It really is the most convenient way to receive money from abroad and we are excited to be a part of this.”
To activate the service, TNM customers need todial *444# or visit any Mpamba agent for assistance.
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