Weeks after being granted a Deposit-Taking Microfinance Institution (DTMFI) license by the Reserve Bank of Zimbabwe (RBZ), Mukuru has officially launched the Mukuru Wallet in Zimbabwe.
The wallet offers a range of features, including the ability to send and receive money both domestically and internationally via mobile phones, secure fund storage, and fee-free cashouts for international transfers.
In a statement, Marc Carrie-Wilson, CEO of Send Money Home Zimbabwe, announced that Mukuru has established a network of 250 service points across both urban and rural areas in Zimbabwe. Said Carrie-Wilson:
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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 underserved communities.
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Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services, said the company is leveraging the wallet to capitalize on its strengths, particularly its robust network and advanced technology.
Mukuru has also formed partnerships with organizations such as COTTCO and the United Nations, through the World Food Programme and the United Nations Children’s Fund.
These collaborations will facilitate a variety of payments, including disbursements to farmers, payroll support for small businesses, and ensuring traceable aid distributions.
Kevin Nyakotyo, Mukuru’s enterprise sales manager for Zimbabwe and Zambia said:
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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 withdraw an amount that suits them with full confidence the cash will be available wherever they are, whenever they need it.
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The platform is designed to improve safety and convenience by eliminating the need for individuals to carry large sums of cash.
Users can easily perform transactions, including paying for electricity, purchasing airtime, settling DSTV bills, and covering insurance payments directly through the wallet.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Pindula News

Mukuru has a new mobile wallet in Zimbabwe to send money both locally and internationally. They have 250 service points across the country for easy access. The wallet can also be used for payments like electricity and insurance. The company is working with organizations to help with payments to farmers and business support. The wallet aims to keep funds safe and easy to access, without needing to carry a lot of cash. Mukuru is also looking to expand into the business sector with their services.

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