Mukuru Launches Mobile Wallet in Zimbabwe to Bolster Financial Inclusion

Next-generation
financial
services
platform
Mukuru
(www.mukuru.com)
has
launched
a
mobile
wallet
in
Zimbabwe
called
Mukuru
Wallet.
The
secure
digital
store
of
value
follows
Mukuru’s
award
of
a
Deposit-Taking
Microfinance
Institution
(DTMFI)
licence
in
Zimbabwe
by
the
Reserve
Bank
of
Zimbabwe.

Building
on
Mukuru’s
trusted
capabilities,
which
support
more
than
three-million
Zimbabwean
customers,
the
wallet
has
several
benefits,
including
its
standout
features:
two
pockets
that
allow
users
to
send
and
receive
money
locally
and
internationally
from
mobile
phones,
safe
storage
of
funds
as
well
as
a
free
cashout
on
international
transfers.
 

Marc
Carrie-Wilson,
Mukuru
Send
Money
Home
Zimbabwe
CEO
 

Marc
Carrie-Wilson,
Send
Money
Home
Zimbabwe
CEO
says,

“The
Mukuru
Wallet
is
a
significant
development
in
the
country
because
we
have
built
a
reputable
brand
by
consistently
ensuring
cash
availability
when
needed.
To
avoid
disappointing
people
who
travel
long
distances
to
receive
their
remittances
which
they
use
for
food,
school
fees
and
other
essential
services,
we
now
have
250
of
our
own
service
points.
With
a
network
stretching
across
urban
and
rural
areas,
we
can
reach
more
people
than
ever,
providing
constant
cash
availability
and
valuable
digital
solutions,
such
as
the
Mukuru
Wallet,
to
the
underserved
communities.”
 

Doug
Tait-Knight,
Mukuru
Zimbabwe
Financial
Services
CEO
 

Mukuru
Zimbabwe
Financial
Services
CEO,
Doug
Tait-Knight,
says, “Mukuru
takes
its
role
as
a
fintech
driving
financial
inclusion
seriously.
With
this
wallet,
we
tap
into
our
strength
which
lies
in
our
robust
network
and
technology,
as
well
as
our
crispy
notes
that
are
always
available,
making
this
an
exciting
moment
in
our
evolution
in
Zimbabwe.

“The
wallet
environment
enables
us
to
start
providing
additional
value
such
as
allowing
more
affordable
domestic
money
transfers,
supporting
safety
by
eliminating
the
need
for
customers
to
walk
around
with
large
sums
of
money,
and
providing
convenience
and
cost
savings,
such
as
paying
for
electricity,
buying
airtime,
settling
DSTV
bills
and
paying
for
insurance
from
their
couch.
Our
use
of
multiple
channels
also
ensures
accessibility
for
our
customers,”
explains

Tait-Knight.

While
currently
focusing
on
private
end
users,
soon
organisations
will
be
able
to
partner
with
Mukuru
to
make
use
of
its
local
capabilities
and
global
footprint
to
facilitate
payments,
such
as
distributing
money
to
farmers,
supporting
payroll
for
small
businesses
and
securing
traceable
aid
distributions.
Various
organisations
such
as
Cottco
and
the
United
Nations,
through
the
World
Food
Programme,
and
the
United
Nations
Children’s
Fund
(UNICEF)
already
partner
with
Mukuru.
 

Kevin
Nyakotyo,
Mukuru’s
Enterprise
Sales
Manager
for
Zimbabwe
and
Zambia
 

Kevin
Nyakotyo,
Mukuru’s
Enterprise
Sales
Manager
for
Zimbabwe
and
Zambia,
added,

“Our
success
in
the
end-user
sector
has
enabled
us
to
set
in
motion
plans
to
enter
the
business
sector.
Whether
it
is
for
tobacco
or
cotton,
payments
made
to
farmers
are
often
large
sums
of
money.
The
Mukuru
Wallet
will
make
receiving
these
large
sums
of
money
far
safer
because
beneficiaries
won’t
need
to
draw
all
their
cash
at
the
same
time.”

“We
have
a
mandate
to
educate
the
market
based
on
trends
we
see,
and
with
this
wallet,
we
are
reaching
out
to
both
organisations
and
individuals
and
giving
them
peace
of
mind
to
know
their
funds
will
be
safe
and
can
be
collected
at
any
time.
They
can
draw
an
amount
that
suits
them
with
full
confidence
the
cash
will
be
available
wherever
they
are,
whenever
they
need
it,”
says

Nyakotyo.

Soundbite
–
Doug
Tait-Knight,
Mukuru
Zimbabwe
Financial
Services
CEO: apo-opa.co/3C6LWkj
 

About
Mukuru

Mukuru
is
a
leading
next
generation
financial
services
platform
in
Southern
Africa
that
offers
affordable
and
reliable
financial
services
to
a
customer
base
of
over
17
million+
across
Africa,
Asia
and
Europe.

With
over
100
million
transactions
to
date,
our
core
was
built
providing
international
money
transfers
and
from
this
base,
we’ve
developed
a
set
of
services
to
address
the
broader
financial
needs
of
our
customers.
We
now
operate
in
over
60
countries
and
across
over
500
remittance
corridors.

We
are
a
business
that
puts
the
customer
at
the
centre
of
everything
we
do,
and
for
that
reason,
we
serve
clients
across
physical
and
digital
channels,
by
various
payment
methods
(cash,
card,
wallet)
as
well
as
a
range
of
engagement
platforms
including
WhatsApp,
USSD,
contact
centre,
App,
website,
agents
and
a
branch
and
booth
network.

Mukuru
has,
for
the
fifth
consecutive
year,
been
listed
as
one
of
the
top
100
Cross
Border
Payments
businesses
in
the
world
in
the
2024
FXC
Intelligence
Top
100
Cross-Border
Payment
Companies,
one
of
only
six
African
companies
to
receive
this
accolade.

In
2023,
Mukuru
officially
ranked
sixth
on
the
LinkedIn
Top
Companies
List
in
South
Africa.

Mukuru
was
celebrated
for
innovation
and
excellence
at
the
2023
Africa
Tech
Festival
Awards,
receiving
the
Fintech
Innovation
of
the
Year
Award
–
an
acknowledgment
of
the
transformative
power
of
financial
technology
in
driving
economic
growth,
financial
inclusion,
and
digital
transformation.

Visit www.Mukuru.com to
learn
more.