THE WALLET ENVIRONMENT ENABLES US TO START PROVIDING ADDITIONAL VALUE SUCH AS ALLOWING MORE AFFORDABLE DOMESTIC MONEY TRANSFERS .
INTELLIGENT BRANDS // Mobile Technology
Mukuru launches mobile wallet in Zimbabwe after receiving microfinance license
Next-generation financial services platform Mukuru has launched a mobile wallet in Zimbabwe called Mukuru Wallet . The secure digital store of value follows Mukuru ’ s award of a Deposit- Taking Microfinance Institution licence in Zimbabwe by the Reserve Bank of Zimbabwe .
Building on Mukuru ’ s trusted capabilities , which support more than three-million Zimbabwean customers , the wallet has several benefits , including its standout features : two pockets that allow users to send and receive money locally and internationally from mobile phones , safe storage of funds as well as a free cashout on international transfers .
While currently focusing on private end users , soon organisations will be able to partner with Mukuru to make use of its local capabilities and global footprint to facilitate payments , such as distributing money to farmers , supporting payroll for small businesses and securing traceable aid distributions . Various organisations such as Cottco and the United Nations , through the World Food Programme , and the United Nations Children ’ s Fund , UNICEF already partner with Mukuru .
Marc Carrie-Wilson , Send Money Home Zimbabwe CEO says , “ The Mukuru Wallet is a significant development in the country because we have built a reputable brand by consistently ensuring cash availability when
THE WALLET ENVIRONMENT ENABLES US TO START PROVIDING ADDITIONAL VALUE SUCH AS ALLOWING MORE AFFORDABLE DOMESTIC MONEY TRANSFERS .
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 the underserved communities .”
Mukuru Zimbabwe Financial Services CEO , Doug Tait-Knight , says : “ 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 .
Kevin Nyakotyo , Mukuru ’ s Enterprise Sales Manager for Zimbabwe and Zambia , added , “ Our success in the end-user sector has enabled us to set in motion plans to enter the business sector . Whether it is 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 will not need to draw all their cash at the same time . p
Marc Carrie-Wilson , CEO , Send Money Home Zimbabwe
Doug Tait-Knight , CEO Mukuru Zimbabwe Financial Services
Kevin Nyakotyo , Enterprise Sales Manager for Zimbabwe and Zambia , Mukuru
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