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Senditoo: Money Remittance Business Reinvented

Money remittances have swollen in Zimbabwe, inviting strong competition.  In July 2020, Zimbabwe recorded a 33 percent increase in Diaspora ...

Money remittances have swollen in Zimbabwe, inviting strong competition. 

In July 2020, Zimbabwe recorded a 33 percent increase in Diaspora remittances, peaking at US$446 million, a sharp increase from US$349.7 in the previous year, according to the Reserve Bank of Zimbabwe (RBZ) governor. 
For Takwana Tyaranini, losing his job availed a chance to serve the Diaspora community. In 2016, he co-founded Senditoo with Ibrahima Soumano, initially as a phone recharge credit method for relatives in the Diaspora to their loved ones.

“For many people, living and working away from their home countries, especially in our native continent of Africa,” Tyaranini confided. “One of their greatest needs is to stay in touch with relatives and friends.”

In the crowded streets of Rimuka, in Kadoma, Tyaranini witnessed hawkers of diverse wares on patrol. Maybe it was a woman loaded with grass brooms, floor polish, or the ice cream cart. The vendors were a relief to families, saving time for other chores. And that nostalgia has stuck with him until now.

For the majority of families, phones were a luxury, only limited to the rich, let alone the gift of money from a family member abroad. But after relocating to the UK, far off, he appreciated family links more, especially when one needs money or to send instant credit to a mobile phone.
Takwana Tyaranini, Senditoo Co-founder
Can you imagine money delivered to your doorstep, just like a newspaper to enlighten your daily morning read? Or the milkman, dropping off your milk bottle to enrich your breakfast, thereby saving you time for other errands. 
To date, Senditoo is the leading airtime transfer service from Europe to the continent. The company has attracted three French investors, pouring in huge sums of money into the company.

In 2019, Senditoo diversified into the cutthroat digital money transfer business in Zimbabwe, inking a partnership deal with a local bank. A thrilled Tyaranini said, “Digital transformation is helping the flow of money and connecting more people around the world and that is where Senditoo comes in.”

In a bid to outsmart their competitors, the company has initiated a home cash delivery service. Senditoo’s social media posts are anchored on the sahwira (friendship) concept that calls for assistance in times of need or trouble in the African context, friends are for life, both in good and bad times. 
Friends are expected to be all-weather friends – and that is what Senditoo has become. Customers are also offered incentives for signing up with Senditoo, or referring new clients.

This November, Senditoo has achieved over $3 million in home cash deliveries across Harare and Bulawayo. The door-to-door delivery concept will eliminate inconveniences caused during the coronavirus outbreak, by delivering cash in the comfort of the recipient’s home. 

Also, it eliminates the risk of theft after withdrawing large sums of money. It also reduces transport costs to those in the outside areas.

On his LinkedIn profile, Tyaranini says, “I am a co-founder of a very cool airtime transfer startup Senditoo. We have built a platform to help everyone stay connected with their family and friends and to send instant credit to mobile phones worldwide.” 

He was the brains behind the creation of the innovative application which offers broad coverage with over 400 mobile operators worldwide, reaching 4,5 billion prepaid users.

For someone who was raised in a two-roomed house, with six other occupants, sharing a confined space, with limited or no privacy at all, every little achievement calls for a celebration. 

“Stop judging us when we celebrate small things sahwira (friend) because some of us grew up having nothing,” Tyaranini recollected on his Facebook page.

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