It has been noticed that mobile money has completely changed the way that Zimbabweans do their business. And it has also a greater impact on financial inclusion. The mobile money transfer in Zimbabwe is mainly done by one person to another. One can do bulk money transfers with the help of Ecocash, that is they can easily pay this amount to their employees. Apart from all this, if the user wants then they can also link their mobile wallet to their bank accounts. This will help them to transfer the amount directly to the bank. But before you do any sort of transaction you must be aware of the Ecocash to bank charges that you need to pay for the service that you take. Mentioned below are 5 reasons why mobile money in Zimbabwe is preferred.

  1. Mobile Money Has Led To Employment Creation

As per a study, it was found that mobile money transfer has helped to create thousands of jobs both directly as well as supporting sectors of the economy. For instance, you will not believe that more than eighty percent of the respondents had a view that mobile money transfer has resulted in the creation of employment creation.

  1. Poverty Reduction, Saving, And Investment

It is obvious that jobs created in any economy will contribute to the economic activity as the people that gain more and more employment will be able to spend, do some saving and in the end contribute to taxes. These taxes are in turn collected by the government which helps to prosper a nation.    

  1. International, As Well As Local Remittances

You will be amazed to know that mobile has brought an enhanced level of convenience for local as well as international remittances.

  1. Ease Of Registration With The Widespread Agent Network

The best part of mobile money in Zimbabwe is that it has a widespread agent network so people can do deposits and withdrawals without any difficulties. This is also one of the significant reasons why the people of Zimbabwe have started accepting mobile money.

  1. Accessibility To The Financial Infrastructure

You need to keep one thing in mind that the availability of the resource is the key factor in motivating an entrepreneur. For instance, people spend very little time in Zimbabwe to locate an Ecocash agent. This indicates that using mobile money is very convenient in this region.

By Richard