WorldRemit & Mukuru join forces to fortify remittance and cash pick up network in Zimbabwe

By Pavithra R

WorldRemit, an international remittance services provider, has announced that the company has partnered with Mukuru, one of Africa’s leading remittance providers to broaden options for cash pick up in Zimbabwe.

Through the partnership, the companies expect to play a vital role in providing financial services to Zimbabweans and generating new synergies for African financial inclusion.

“We have witnessed an increasing demand as more Zimbabweans are using our digital app to send money to their loved ones. Through this partnership, we are able to drive our service further and wider, providing access to remittances even in small towns and growth points across the country. We want to ensure that everyone, everywhere has access to our service which offers a fast and convenient user experience, affordability and easy access to cash,” said Pardon Mujakachi, Head of Sub Saharan Africa and Country Director for Zimbabwe at WorldRemit.

With an increased need for financial resources during the coronavirus pandemic, the collaboration expects to enable WorldRemit customers in over 50 countries including the United States, Australia, New Zealand, United Kingdom, Europe and Canada to send money to their loved ones in Zimbabwe. Recipients can collect their WorldRemit remittance in any of Mukuru’s 120 orange booths and branches, which are located across the country in both rural and peri urban areas.

The partnership between the companies is built out of the shared mission of supporting Zimbabwe’s large diaspora in their pursuit to send critical financial resources to families back home. The relationship is particularly significant as both companies are leveraging their existing capabilities and resources, and neither company has to invest or generate new resources for facilitating the cash pick up network. The remittance service will be operational for 6 days a week and offers cash in US dollars.

“We are excited to be able to extend Mukuru’s valuable pay-out footprint to more customers, and to harness this opportunity with WorldRemit’s global reach to expand our fast-growing global presence – while simultaneously creating new opportunities for customer-led innovation on the continent. These types of synergies bring immediate value to our customers, and alleviates their day to day challenges with user-friendly solutions,” said Andy Jury, CEO, Mukuru.

“WorldRemit is 25% more affordable than the traditional players and banks. Our extensive cash collection network, flexible cash collection hours and lower fees, offer value for money to our customers. This proves us to be the most affordable means of sending money to Zimbabwe,” added Mujakachi.

Established since 2004, Mukuru is an Africa-based FinTech that enables safe, affordable, reliable financial services to underserved communities. The FinTech helps users to move money in and around Africa and Asia. The company also provides customer services such as Funeral Cover, The Mukuru Money Card and payment solutions for businesses in emerging markets.