Mukuru, a next-generation financial services platform, has launched a mobile wallet designed to enhance financial inclusion in Zimbabwe.
This development follows Mukuru’s receipt of a Deposit-Taking Microfinance Institution (DTMFI) licence from the Reserve Bank of Zimbabwe, according to FF News.
The launch of the Mukuru Wallet is aimed at addressing financial accessibility challenges in Zimbabwe.
With a network that spans both urban and rural areas, Mukuru seeks to provide secure, convenient, and reliable financial solutions to underserved communities.
The FinTech platform serves millions across Africa and beyond. Known for enabling affordable cross-border money transfers, digital financial services, and solutions tailored for emerging markets.
The company has built a strong reputation for meeting customer needs through a robust network and technology-driven services.
The Mukuru Wallet offers several standout features, including dual pockets for local and international transfers, secure fund storage, and a free cashout option for international transfers.
Customers can also use the wallet to pay for utilities such as electricity, buy airtime, settle DSTV bills, and pay insurance premiums, all from the comfort of their homes.
Additional plans for the wallet include enabling organisations to partner with Mukuru for payments to farmers, small business payrolls, and traceable aid distributions. This functionality is expected to appeal to institutions such as the World Food Programme, UNICEF, and other entities already collaborating with Mukuru.
“The wallet environment enables us to provide additional value, such as safer money transfers, affordability, and convenience,” Mukuru Zimbabwe Financial Services CEO Doug Tait-Knight said. He highlighted the wallet’s potential to revolutionise how customers access and use their funds while ensuring safety and accessibility.
Kevin Nyakotyo, Mukuru’s Enterprise Sales Manager for Zimbabwe and Zambia, emphasised that the Mukuru Wallet is designed for both private users and organisations. He noted, “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.”
Looking ahead, Mukuru plans to extend its services to businesses, enabling safer and more efficient transactions in sectors such as agriculture and small enterprises.
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