HARARE, ZIMBABWE– Mukuru, a leading next-generation financial services platform, has officially zimbabwe/">launched its new mobile wallet in Zimbabwe. The launch follows Mukuru’s recent award of a Deposit-Taking Microfinance Institution (DTMFI) licence by the Reserve Bank of Zimbabwe. This milestone brings enhanced digital financial solutions to over three million Zimbabwean customers.
The newly introduced Wallet offers a range of benefits designed to simplify digital transactions. With two pockets for sending and receiving money both locally and internationally, users can store funds securely and enjoy free cash outs on international transfers. The platform aims to provide safe, easy, and cost-effective ways to manage finances, addressing the needs of Zimbabwe’s underserved communities.
Marc Carrie-Wilson, CEO of Send Money Home Zimbabwe, emphasized the wallet’s importance in the country. “We’ve built a reputable brand by ensuring cash availability when needed, and with 250 service points across urban and rural areas, we can now serve more people than ever. The Mukuru Wallet is a critical tool in delivering financial services to communities that rely on remittances for essentials like food, school fees, and healthcare,” said Carrie-Wilson.
Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services, highlighted the wallet’s role in advancing financial inclusion. “This wallet taps into Mukuru’s strengths in network coverage and technology. It’s an exciting moment in our journey to offer more value, such as affordable domestic money transfers, enhanced safety by reducing the need for carrying large sums of cash, and the convenience of paying for electricity, airtime, insurance, and more, all from the comfort of home,” Tait-Knight explained.
The Mukuru Wallet is currently focused on serving individual end users, but plans are already underway to expand into the business sector. Organizations will soon be able to partner with Mukuru to facilitate payments, such as distributing funds to farmers or supporting small business payrolls. Notable partners already include Cottco, the United Nations World Food Programme (WFP), and UNICEF.
Kevin Nyakotyo, Mukuru’s Enterprise Sales Manager for Zimbabwe and Zambia, added, “Our success with individual users has laid the groundwork for our expansion into the business sector. The Mukuru Wallet will make it safer for beneficiaries to receive large payments, such as those made to farmers, by eliminating the need to withdraw all funds at once.”
Nyakotyo also emphasized the wallet’s role in educating users about digital trends. “We’re committed to helping people and businesses understand how digital payments can offer peace of mind. With the Mukuru Wallet, users can access their funds safely and flexibly, drawing an amount that suits them whenever needed.”
Mukuru’s new mobile wallet is poised to transform financial accessibility in Zimbabwe, offering a secure and convenient solution for managing money both locally and internationally.
