On Monday, Mukuru, a platform for next-generation financial services, indicated that the Mukuru Wallet will soon be available in Zimbabwe.
This mobile wallet is designed to promote financial inclusion for more than three million customers in Zimbabwe. It enables them to transmit and receive funds securely both domestically and internationally.
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Features of Mukuru wallet
The Mukuru Wallet offers several standout features, including:
Dual Pockets: Users can manage both local and international transactions.
Safe Storage: Funds are securely stored within the app.
Free Cashout: Users benefit from no fees on international transfers.
Marc Carrie-Wilson, CEO of Send Money Home Zimbabwe, emphasised the wallet’s significance: “We have built a reputable brand by consistently ensuring cash availability when needed”.
Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services, 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 our crispy 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.
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Plans and partnerships
Mukuru plans to extend its services beyond individual users to organisations, facilitating payments for farmers and small businesses.
Kevin Nyakotyo, Mukuru’s Enterprise Sales Manager for Zimbabwe and Zambia, stated, “Our success in the end-user sector has enabled us to set in motion plans to enter the business sector”.
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 simultaneously.
“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 draw an amount that suits them with full confidence, and the cash will be available wherever they are, whenever they need it,” says Nyakotyo.
Mukuru already collaborates with several institutions, including Cottco, the United Nations through the World Food Programme, and the United Nations Children’s Fund (UNICEF).
Why wait? Start saving with Mukuru Wallet today and explore convenient financial possibilities!
