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Mukuru unveils mobile wallet to boost financial inclusion in Zimbabwe

By Gloria Methri

January 15, 2025

  • cash payments
  • Cross Border Payments
  • Cross Border Remittances
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Mukuru, Mukuru Wallet, online payments, mbile tramsfer, cross border payments, international transfer, online shopping, digital transactions, online payment gateway, cash payments, digital economy, Fintech news, Fintech AfricaNext-generation financial services platform Mukuru has launched a mobile wallet in Zimbabwe called Mukuru Wallet.

Building on Mukuru’s capabilities, 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, Send Money Home Zimbabwe CEO, said, “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 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.”

Mukuru Zimbabwe Financial Services CEO Doug Tait-Knight added, “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 crisp 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.

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