Sasai Money Transfer, a subsidiary of Cassava Technologies and one of the fastest-growing international money transfer operators, has expanded its groundbreaking zero-fee remittance service to additional African markets through a new partnership with Airtel Money.
This initiative, launched in May 2024 in collaboration with Econet in Zimbabwe, is now extending its reach, starting with Uganda. It will soon include other high-traffic remittance markets such as Ghana, Malawi, Nigeria, Kenya, and Zambia.
The zero-fee initiative allows users of Sasai Money Transfer in the United Kingdom and South Africa to send money to family and friends in Uganda without incurring remittance fees. The partnership ensures recipients can also cash out their funds from their Airtel Money wallets without any charges, offering a comprehensive and cost-effective service to both senders and receivers.
In many African countries, informal remittances often surpass formal channels, leading to significant financial risks for migrants. Sasai Money Transfer aims to bridge this gap by digitizing and formalizing remittance services, ensuring they are accessible and affordable for all. This initiative aligns with Sasai’s vision of a digitally connected Africa that leaves no one behind.
Mr. Japhet Aritho, Managing Director of Airtel Mobile Commerce Uganda Limited, highlighted the importance of this partnership, stating, “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.”
The success of Sasai’s zero-fee partnership with EcoCash in Zimbabwe has already proven popular among senders in the UK and South Africa, offering significant relief from the often high remittance fees. The service has been described as an “indispensable lifeline” for many families relying on financial support from abroad.
Sasai Fintech CEO, Mr. Darlington Mandivenga, emphasized the importance of the new partnership, stating, “The collaboration 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.”
The zero-fee initiative represents a significant shift in the remittance industry, where fees can often reach as high as 13%. By partnering with mobile money operators like Airtel Money, Sasai Money Transfer is helping to make money transfer services more affordable, with the potential to formalize international money transfers that have historically relied on informal and less secure channels.
