Mukuru, a prominent financial services provider, has introduced the Mukuru Wallet in Zimbabwe, a transformative digital platform aimed at enhancing financial accessibility for underserved populations. The launch follows Mukuru’s acquisition of a Deposit-Taking Microfinance Institution (DTMFI) license from the Reserve Bank of Zimbabwe.
Tailored to meet the needs of over three million Zimbabwean customers, the Mukuru Wallet offers two key functionalities: secure local and international money transfers and safe fund storage. Users can also enjoy fee-free cashouts for international remittances, supported by Mukuru’s extensive network of 250 service points nationwide.
“Mukuru has built a trusted brand by ensuring cash is available when customers need it most. The Mukuru Wallet enables us to reach even more people, providing reliable access to funds and essential digital solutions, particularly for rural communities that rely on remittances for critical needs like food and education,” said Marc Carrie-Wilson, CEO of Send Money Home Zimbabwe.
The Mukuru Wallet prioritizes safety by reducing the need for customers to carry large amounts of cash. It also offers cost-effective solutions for daily financial needs, such as paying utility bills, buying airtime, settling DSTV subscriptions, and managing insurance—all accessible through a mobile device.
“Our strong network and advanced technology allow us to offer affordable domestic transfers and innovative financial services that prioritize convenience and safety. This launch marks an exciting milestone in Zimbabwe’s fintech journey,” noted Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services.
Mukuru’s plans include expanding its wallet services to businesses, facilitating payroll processing, secure aid distribution, and bulk payments for farmers. Existing collaborations with organizations like Cottco, the United Nations World Food Programme, and UNICEF showcase Mukuru’s ability to deliver efficient, traceable financial solutions.
“By addressing the needs of individuals and businesses, we’re providing a secure and flexible way to manage funds. Customers can access their money anytime, with the assurance that their funds are safe and available whenever they need them,” said Kevin Nyakotyo, Enterprise Sales Manager for Zimbabwe and Zambia. The Mukuru Wallet underscores the company’s commitment to advancing financial inclusion and empowering communities through innovative and accessible financial tools.