Mukuru has launched the Mukuru Wallet in Zimbabwe after receiving a Deposit-Taking Microfinance Institution (DTMFI) license from the Reserve Bank of Zimbabwe. Designed for over three million customers, the wallet enables secure digital storage, local and international money transfers, safe fund storage, and free cashouts on international transfers.

Marc Carrie-Wilson, CEO of Send Money Home Zimbabwe, said:

“The Mukuru Wallet ensures cash availability and extends our reach to underserved communities across urban and rural areas.”

Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services, highlighted its benefits:

“The wallet enables affordable domestic transfers, safe storage of funds, and convenient payments for utilities, airtime, insurance, and more.”

The wallet has the ability to securely manage large payments for industries like tobacco and cotton farming, eliminating the need to withdraw cash in bulk and ensuring fund safety and accessibility.

Mukuru plans to expand into business services, supporting payments for farmers, payroll for small businesses, and aid distributions.

Featured image credit: Edited from freepik