Sasai Econet Financial Services (SEFS) continues to grow further impact of its mobile money platform, EcoCash Spache-Fono, by expanding its global remittance network through a new partnership with Transfer to Mobile Money Ltd (Thunes), a leading international payments provider.
The collaboration will make it easier for Basotho living abroad to send money home quickly, securely, and at greater convenience.
This milestone was announced following a recent, high-level meeting between the SEFS’ General Manager, Moeketsi Mafereka, and Thunes’ Regional Director, Adelina Moura.
The expanded remittance avenues will allow Basotho to receive money from Zimbabwe through EcoCash Zimbabwe, Australia (mhits), Tanzania (Mixx), Southern Africa region (Mama Money), Europe, North America, South Africa and the Middle East (Ria Money Transfer), the UK and Canada (Visa).
Locals will also be able to receive money from Botswana via the Orange Botswana corridor from October this year.
“These additional corridors are a milestone for us as Sasai Econet Financial Services and a huge relief for Basotho families who rely on remittances to make a living,” said Mr Mafereka.
“Through EcoCash, we are making it easier than ever for Basotho abroad to send money home safely and instantly.”
Mafereka further emphasised that this development builds on EcoCash’s 13-year journey of transforming access to financial services in Lesotho. He expressed his excitement on EcoCash’s vital role in connecting Basotho to the global financial system while reinforcing its position at the centre of the country’s digital economy.
On her part, Moura noted; “By expanding these remittance corridors for EcoCash, we are enabling Basotho communities worldwide to support their families back home with greater convenience.
For more than a decade, EcoCash Spache-fono has been at the forefront of Lesotho’s financial ecosystem, driving financial inclusion and empowerment through its extensive and life-changing services.
Backed by its sister company, Econet Telecom Lesotho’s strong network footprint across the Mountain Kingdom, EcoCash has reached even the most remote areas, giving Basotho and local businesses access to safe and reliable digital transactions.
Remittances have historically been a lifeline for many Basotho families, particularly in rural areas. They provide critical income for food, schooling, health care, and housing.
Without them, many households would struggle to meet basic needs. It is estimated that remittances received in Lesotho in 2024 amounted to US$499.30 million (approximately M9 billion).
Summary
- Sasai Econet Financial Services (SEFS) continues to grow further impact of its mobile money platform, EcoCash Spache-Fono, by expanding its global remittance network through a new partnership with Transfer to Mobile Money Ltd (Thunes), a leading international payments provider.
- “These additional corridors are a milestone for us as Sasai Econet Financial Services and a huge relief for Basotho families who rely on remittances to make a living,” said Mr Mafereka.
- He expressed his excitement on EcoCash’s vital role in connecting Basotho to the global financial system while reinforcing its position at the centre of the country’s digital economy.
Seabata Mahao is a general news reporter with special focus on Business and Sports. Started working at Newsday in 2021. Working in a team with a shared goal is what I enjoy most and that gives me the motivation to work under any environment leading to growth.
