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Mukuru, a global remittance platform facilitating money transfers from South Africa and the United Kingdom to Africa, Europe, and Asia, has officially launched the Mukuru Wallet in Zimbabwe. This milestone comes shortly after Mukuru obtained a Deposit-Taking Microfinance Institution (DTMFI) license from the Reserve Bank of Zimbabwe, reaffirming its dedication to advancing financial inclusion and digital transformation.
The Mukuru Wallet marks a pivotal moment in Mukuru’s two-decade presence in Zimbabwe. Building on its extensive network of 250 proprietary service points and 500 partner access points, the company serves over three million customers. This innovative digital solution is designed to enhance accessibility and convenience for users, providing a secure and efficient financial ecosystem.
Marc Carrie-Wilson, CEO of Send Money Home Zimbabwe, emphasized the wallet’s significance:
“The Mukuru Wallet is a game-changer for Zimbabwe. We’ve built a reliable brand by ensuring consistent cash availability, particularly for customers traveling long distances for essential remittances like food, school fees, and other critical needs. Our network spans urban and rural areas, enabling us to offer continuous access to cash and vital digital solutions such as the Mukuru Wallet, especially for underserved communities.”
Key Features and Advantages
The Mukuru Wallet delivers a variety of features aimed at simplifying financial transactions:
- Dual Transaction Pockets: Users can seamlessly send and receive money locally and internationally using their mobile phones.
- Secure Fund Storage: Provides a safe digital space for storing customer funds.
- No-Cost Cashouts: Customers enjoy free cash withdrawals on international transfers.
- Ease of Payments: Enables payments for essentials such as electricity, airtime, DSTV subscriptions, and insurance.
Future Development Plans
Although initially targeting private individuals, Mukuru intends to expand the wallet’s capabilities to serve businesses and organizations. Upcoming features include payment solutions for farmers, payroll services for small enterprises, and secure aid distribution systems.
With the Mukuru Wallet now operational in Zimbabwe, the company operates five digital wallets across five regions, including South Africa, Botswana, Malawi, and Zambia. This achievement highlights Mukuru’s commitment to continually enhancing its infrastructure and services in key markets.
By offering a secure, seamless, and affordable digital financial solution, Mukuru remains a leader in promoting financial inclusion and empowering communities across Africa and beyond.
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