The South Africa-based fintech platform Mukuru has announced the launch of its mobile wallet service in Zimbabwe.
The company stated that the Mukuru Wallet offers free cash withdrawals for both local and international transactions.
Marc Carrie-Wilson, CEO of Mukuru Send Money Home Zimbabwe, highlighted that the company is now able to reach more people than ever before, both in rural and urban areas.
Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services, emphasized that the wallet application facilitates more affordable local money transfers while eliminating the need for customers to carry cash, thereby enhancing security. He also noted that the app simplifies and reduces the cost of bill payments and insurance transactions.
While the system currently targets individual customers, organizations will soon be able to take advantage of its benefits. The United Nations World Food Program, Cottco, and UNICEF are already partnering with the company.
Mukuru operates in 50 countries and utilizes 300 remittance corridors.
The launch of this service in Zimbabwe comes just four months after a similar product was introduced in Malawi.