07 February 2025

Mukuru has launched a mobile wallet in Zimbabwe called Mukuru Wallet, following its award of a Deposit-Taking Microfinance Institution (DTMFI) licence in the country by the Reserve Bank of Zimbabwe.

The wallet has several benefits, including two pockets that allow users to send and receive money locally and internationally from mobile phones, and safe storage of funds, as well as a free cashout on international transfers.

“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,” said Marc Carrie-Wilson, CEO of Mukuru company Send Money Home 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,” said Mukuru Zimbabwe Financial Services CEO, Doug Tait-Knight.