Malawians and Other nationals working in South Africa have been brought more closer to their nations when it comes to sending money as an emerging mobile money company Mama Money has expanded to Malawi and other African countries.
Mama Money ,a Zimbabwe financial institution developed in South African based, has recently opened it’s operations in Nigeria, Ghana and Tanzania,Zambia,Mozambique and few other countries in Africa.
Mama Money co – founder Raphael Grojnowski told the media that, “It’s platform, software and service solutions are developed for Africans and emerging economies where the rise and growth of mobile money is coupled with increasing demand for affordable legal money transfer”.
Mukuru and Hello Paisa are the major competitors.
The two financial institutions (Mukuru and Hello Paisa) charges a commission of 10% and 5% respectively, the companies also operates in Malawi and in some African countries.
Mama Money charges a senders a commission of 5% .
In Malawi, Mama Money partnered with Airtel Malawi through Airtel Money.
In South Africa, people register with the 650 Mama Money agents on the ground or with their primary retail partner PEP Stores.
When sending money,the sender can transfer at any of the retailer partners at 32 000 cash-in points or via bank transfer using a computer or mobile phone by dialing *134*542#