By Grace Chekai

Zimpost is set to introduce mobile money transfer in partnership with a UK based Fintech Company, BIBI Money Global Ltd next month, Harare Post has learnt.

A contact from Zimpost said that BIBI Money Globa Ltd would provide the initial capital of US$50 000 for marketing and provision of mobile software and Sim-Skin membrane.

From the partnership Zimpost would get a profit share of 60 percent whilst BIBI Money Global Ltd will get the remainder.

BIBI Money Global Ltd is the only company providing mobile software in Africa. It provides mobile transfer services to increase financial inclusion through working together with local service providers.

So far BIBI Money Global Ltd is operating in Tanzania and Botswana where it has established the same mobile transfer platforms.

According to the contact, this unique solution will enhance the user to perform a full range of financial services including sending money from person to person, person to  merchant, complete bill payments, making airtime top-ups, cash-in and cash-out transactions, receive salaries and social payment across all the three networks that are in the country (Telecel, Netone and Econet).

So far, Zimpost has managed to get approval from interoperable short code from the Postal and Telecommunications and Regulatory Authority of Zimbabwe (POTRAZ) for use in Short Message Service (SMS) and Multimedia Messaging Service (MMS), to and from mobile phones.

The short code has since been registered with Telecel. Contact said negotiations were underway to register the short code with Net one and Econet as well.

However, Zimpost is waiting for Reserve Bank of Zimbabwe (RBZ) mobile money license which they applied for in February 2019. According to contact, RBZ promised to approve the application by 30 March 2020.

This move will see mobile money transfer being more user friendly than the current set up platform which is limited to only one particular network.