Vodacom M-Pesa has announced the expansion of its International Money Transfer service portfolio. Vodacom customers will now have the option and ability to easily transfer and receive funds from individuals across more than 200 countries worldwide.
This was said recently at an international day of family remittances event held in Dar es Salaam where stakeholders met to deliberate on the future of International Remittance post COVID 19.
Speaking during a panel discussion on the same, Assistant Manager, Oversight and Policy at Directorate of National Payment Systems from Bank of Tanzania (BOT) Albert Cezari said the national bank has increased limits on digital transactions and reviewed balances of mobile wallets in a bid to provide relief and ensure continuity of services as part of measures taken amidst COVID-19.
On his part, Vodacom Tanzania PLC Managing Director Mr. Hisham Hendi, said that international remittances make possible people and small businesses to stay connected irrespective of geography.
According to World Bank Figures, Tanzania recent remittances stood at $430 million, an increase of $25 million from 2019. The sum represents 0.8 percent of the country’s GDP.