Mukuru has unveiled the new Mukuru Wallet to boost the financial technology sector in Zimbabwe after being issued with a Deposit-Taking Microfinance Institution license from the Reserve Bank of Zimbabwe.
The digital wallet platform is expected to cater for Mukuru’s large customer base of over three million customers within the Mukuru Money transfer service value chain, it will provide the following key services; Digital wallet for secure storage; Domestic and international money transfer; Free cash out service for international transfers.
Marc Carrie-Wilson, CEO of Send Money Home Zimbabwe, emphasized the wallet’s strategic importance: The Mukuru Wallet thus makes cash accessible and expands our network to the heart of society, urban and rural.
This statement throws light on Mukuru’s culture towards making adequate and easy access to financial opportunities in the various regions of Zimbabwe.
Adding to the platform’s value proposition, Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services, detailed its practical benefits: “The wallet further makes it cheap to transfer money within the home country, keep money safe, and make payments for utilities, airtime, insurance and lots more.” This overview of the planned digital financial services shows that the Mukuru Wallet can function as a multi-purpose financial instrument.
One of the options that you are going to appreciate is the opportunity to make rather large payments and this might be rather important for a number of key industrial categories like tobacco and cotton growing.
This functionality helps to minimise the points that were such risks when undertaking bulk cash withdrawals so when undertaking substantial transactions it affords a secure and efficient way of making the transactions while at the same time ensuring the money is safe and easily retrievable.
In future, Mukuru has visionary targets to increase its services to the business segment. Such plans are; the establishment of special payment methods that would be suitable for farmers, promoting payroll services suitable for small enterprises as well as; providing payment conduits for aid.
This strategic expansion reveals Mukuru efforts to transform into a financial solution that is versatile and capable of meeting all the needs of the common populace as well as boosting business organizations in Zimbabwe.
The Mukuru Wallet launch marks a major step towards the development of Zimbabwe’s digital financial landscape, jointly capable of filling the gap between classical banking services and customers’ needs and promoting secure, fast and freely available financial exchanges in Zimbabwe as a whole.
