News / National
Mukuru launches mobile wallet in Zimbabwe to bolster financial inclusion
10 hrs ago | Views
Next-generation financial services platform Mukuru has introduced a mobile wallet in Zimbabwe following the issuance of a deposit-taking microfinance institution licence by the Reserve Bank of Zimbabwe.
Building on Mukuru's established trust, which supports over three million Zimbabwean customers, the wallet—Mukuru Wallet—enables users to send and receive money locally and internationally via their mobile phones. Additionally, it offers safe storage of funds and free cash-out on international transfers.
In a statement, Marc Carrie-Wilson, chief executive officer of Send Money Home Zimbabwe, emphasized the wallet's potential to deepen financial inclusion.
"To avoid disappointing people who travel long distances to receive their remittances for essentials such as food, school fees, and other vital services, we now have 250 of our own service points. With a network spanning urban and rural areas, we can reach more people than ever before, providing constant cash availability and valuable digital solutions like the Mukuru Wallet to underserved communities," he said.
Doug Tait-Knight, Mukuru Zimbabwe Financial Services chief executive officer, highlighted the company's commitment to driving financial inclusion through technology.
"Mukuru is taking its role as a fintech firm seriously, focusing on the integration of a robust network and cutting-edge technology. While currently serving private end users, we are planning to expand into partnerships with organisations to facilitate payments—ranging from distributing funds to farmers to supporting small businesses and ensuring traceable aid distributions," he said.
Mukuru has already established partnerships with organisations such as Cottco and the United Nations, including the World Food Programme and the United Nations Children's Fund.
"Our success in the end-user sector has empowered us to establish plans to enter the business sector. Whether for tobacco or cotton payments, disbursing large sums of money to farmers is common. With Mukuru Wallet, these large payments will be safer, as beneficiaries won't need to withdraw all their cash at once," said Kevin Nyakotyo, Mukuru's enterprise sales manager for Zimbabwe and Zambia.
"We aim to educate the market based on emerging trends. With this wallet, we are empowering both organisations and individuals, offering them peace of mind knowing their funds are secure and can be accessed anytime, anywhere. Users can withdraw the amount they need with full confidence that the cash will be readily available," Nyakotyo added.
This initiative marks a significant step towards enhancing financial accessibility and security in Zimbabwe, especially for those in underserved regions.
Building on Mukuru's established trust, which supports over three million Zimbabwean customers, the wallet—Mukuru Wallet—enables users to send and receive money locally and internationally via their mobile phones. Additionally, it offers safe storage of funds and free cash-out on international transfers.
In a statement, Marc Carrie-Wilson, chief executive officer of Send Money Home Zimbabwe, emphasized the wallet's potential to deepen financial inclusion.
"To avoid disappointing people who travel long distances to receive their remittances for essentials such as food, school fees, and other vital services, we now have 250 of our own service points. With a network spanning urban and rural areas, we can reach more people than ever before, providing constant cash availability and valuable digital solutions like the Mukuru Wallet to underserved communities," he said.
Doug Tait-Knight, Mukuru Zimbabwe Financial Services chief executive officer, highlighted the company's commitment to driving financial inclusion through technology.
"Mukuru is taking its role as a fintech firm seriously, focusing on the integration of a robust network and cutting-edge technology. While currently serving private end users, we are planning to expand into partnerships with organisations to facilitate payments—ranging from distributing funds to farmers to supporting small businesses and ensuring traceable aid distributions," he said.
Mukuru has already established partnerships with organisations such as Cottco and the United Nations, including the World Food Programme and the United Nations Children's Fund.
"Our success in the end-user sector has empowered us to establish plans to enter the business sector. Whether for tobacco or cotton payments, disbursing large sums of money to farmers is common. With Mukuru Wallet, these large payments will be safer, as beneficiaries won't need to withdraw all their cash at once," said Kevin Nyakotyo, Mukuru's enterprise sales manager for Zimbabwe and Zambia.
"We aim to educate the market based on emerging trends. With this wallet, we are empowering both organisations and individuals, offering them peace of mind knowing their funds are secure and can be accessed anytime, anywhere. Users can withdraw the amount they need with full confidence that the cash will be readily available," Nyakotyo added.
This initiative marks a significant step towards enhancing financial accessibility and security in Zimbabwe, especially for those in underserved regions.
Source - the chronicle
