Mukuru Launches Digital Wallet in Zimbabwe Following DTMFI License Approval
Mukuru, an international remittance platform enabling users in South Africa and the United Kingdom to send money to Africa, Europe, and Asia, has introduced the Mukuru Wallet in Zimbabwe. This launch marks the first major development since Mukuru received a Deposit-Taking Microfinance Institution (DTMFI) license from the Reserve Bank of Zimbabwe, further demonstrating its commitment to financial inclusion and digitization.
The Mukuru Wallet represents the next step in Mukuru’s 20-year journey in Zimbabwe, building on its trusted network of 250 Mukuru-owned and 500 partner access points, which collectively support over three million customers. This digital store of value aims to enhance financial accessibility and convenience for its users.
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 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.”
Key Features and Benefits
The Mukuru Wallet offers a range of benefits designed to simplify financial transactions:
- Two Pockets for Transactions: Users can send and receive money locally and internationally directly from their mobile phones.
- Safe Fund Storage: Provides secure digital storage for customer funds.
- Free Cashout: Customers enjoy free cash withdrawals on international transfers.
- Convenience and Savings: The wallet enables users to pay for essential services such as electricity, airtime, DSTV subscriptions, and insurance.
Future Expansion
While the current focus is on private individuals, Mukuru plans to extend its services to organizations and businesses in the near future. This includes facilitating payments for farmers, supporting payroll for small enterprises, and enabling secure and traceable aid distributions through the wallet.
With the launch of the Mukuru Wallet in Zimbabwe, the company now operates five digital wallets in five territories, including South Africa, Botswana, Malawi, and Zambia. This milestone underscores Mukuru’s commitment to evolving its infrastructure and offerings across its key markets.
By providing a seamless, secure, and affordable digital financial solution, Mukuru continues to drive financial inclusion and empower its growing customer base across Africa and beyond.
