JOHANNESBURG and KAMPALA, 4th September 2024
SASAI MONEY TRANSFER, a business of Cassava Technologies and one of the fastest growing international money transfer operators has partnered with Airtel Money to expand its revolutionary offer of free remittances to more African markets. The Zero Fees initiative, which was first launched in May 2024 by Sasai Money Transfer in partnership with Econet in Zimbabwe, is now being expanded with Airtel Money starting with Uganda, before being extended to other high-traffic remittance Airtel markets such as Malawi, Nigeria, Kenya and Zambia.
This life-changing initiative eliminates remittance sending fees for users of the Sasai Money Transfer service in the United Kingdom and South Africa sending money to family and friends in Uganda. Overall, this is an end-to-end customer proposition offering unique benefits of improved access and affordability to both the sender and receiver.
The current reality in the African context is that informal remittances are still prevalent, by and large exceeding the volume of formal remittances flowing through official channels. This high level of informality presents a challenge for African migrants many of whom end up losing their hard-earned money to unscrupulous intermediaries. In line with the vision of a digitally connected future that leaves no African behind, Sasai and Airtel Money are leading the charge of digitizing and formalizing remittances, and making the services more accessible and affordable for all Africans. The goal is to close the gap between formal and informal money transfers and making sure that no one is excluded from these essential services.
The Managing Director of Airtel Mobile Commerce Uganda Limited, Mr. Japhet Aritho said, “We have partnered with Sasai Money Transfer on their innovative initiative that aligns with our own agenda of ensuring financial inclusivity for all Ugandans. This offer brings even more value to our customers, coinciding with our big consumer promotion, Vroomula Amajja, which offers customers a chance to win daily cash prizes, weekly Boda-Boda prizes and a Toyota Rav4 Hybrid by simply receiving remittances into their Airtel Money wallet.”
Sasai Money Transfer’s forerunning partnership on zero fees with EcoCash, Zimbabwe’s largest mobile money operator, has proven to be a resounding success. The zero fees offer has become very popular with senders in the UK and SA offering relief from the often-exorbitant remittances fees seen in the market. Resultantly, the initiative has been described by many as an “indispensable lifeline” for families back home.
Sasai Fintech CEO, Darlington Mandivenga said, “The partnership with Airtel Money Uganda offers an important avenue into one of Africa’s largest remittance markets. As Sasai, this is where we want to be, ensuring we reach as many people as possible and ultimately leave no African behind. We are in a competitively unique position where we have been able to utilize our source market assets, operational efficiencies and group synergies, while collaborating with like-minded partners such as Airtel Money to deliver innovative offerings.”
The Zero Fees initiative by Sasai marks another first in the remittances industry, where a Money Transfer Operator has been able to effectively collaborate with Mobile Money Operators to focus on a single goal: making money transfer services more affordable. In an industry where fees can be as high as 13%, the zero fees initiative holds enormous long-term potential to contribute to the formalization of international money transfers, the bulk of which still flow through unsafe and unreliable informal channels.
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