- Mukuru to drive adoption of digital monetary options with help of its intensive sales space and agent community
- DTMFI license to amplify Reserve Financial institution of Zimbabwe’s Monetary Inclusion Technique
- Value discount advantages to be felt by SMEs, ladies, youth and rural communities
Subsequent-generation monetary companies supplier Mukuru (www.Mukuru.com) has been awarded a Deposit-Taking Microfinance Establishment (DTMFI) licence in Zimbabwe. This essential achievement allows Mukuru to develop on its mission of driving monetary inclusion within the nation, particularly amongst underserved teams reminiscent of SMEs, folks with disabilities, ladies, youth and rural communities.
Mukuru’s Group CEO Andy Jury says being awarded the DTMFI licence is a major milestone for Mukuru as a result of its mission aligns completely with Zimbabwe’s Nationwide Monetary Inclusion Technique, which is spearheaded by the Reserve Financial institution of Zimbabwe. “We’re excited to leverage our intensive community and digital capabilities to additional empower underserved communities – notably SMEs, ladies, youth, folks with disabilities and rural populations – and drive better monetary inclusion throughout the nation.”
Jury says Mukuru is uniquely positioned to bridge the gaps between formal and casual monetary companies in Zimbabwe by unlocking new financial alternatives by the supply of revolutionary monetary merchandise that allow folks to ship, retailer, spend and doubtlessly borrow with ease. “Related monetary inclusion relies on the uptake of services and products. To this finish, Mukuru’s trusted model and repute as a dependable monetary companies supplier is predicted to help the constructing of buyer belief and drive the adoption of digital choices,” explains Jury.
Monetary inclusion in Zimbabwe is at its lowest in rural areas, the place 63% of the inhabitants lives. Mukuru, which has been a part of Zimbabwe’s monetary companies panorama for the previous 20 years, serves over three million loyal prospects. Its trusted and intensive community, with digital capabilities, has 250 owned entry factors, with 40% of those in rural areas. Along with this, it has greater than 500 accomplice entry factors out there throughout the nation.
Mukuru Zimbabwe Monetary Companies CEO Doug Tait-Knight says significant monetary inclusion uplifts communities by enabling them to entry monetary companies and enter the mainstream economic system.
“DTMFI service choices reduce out journey prices and improve safe and inclusive practices as cash doesn’t must be collected. At present, greater than 90% of people that obtain remittances money them out and so we’re well-positioned now to assist them alongside their digital monetary inclusion journeys. Our DTMFI licence will allow us to ship revolutionary digital options that deal with the precise wants of our prospects, from these in wheelchairs who wrestle to entry money from ATMS, to small enterprise house owners searching for to develop their enterprises. We’re delighted that our technique aligns with the nationwide monetary inclusion technique,” he says.
Distributed by APO Group on behalf of Mukuru.
Media Enquiries:
Kgomotso Hlakudi
kgomotso.hlakudi@mukuru.com
(+27) 73 333 1672
Mthokozisi Dube
mtho.dube@lalataucomms.co.za
(+27) 81 790 2070
Ammaarah Kootbodien
ammaarah@duomarketing.co.za
(+27) 71 529 6449
Notes to Editor:
Mukuru is a number one subsequent technology monetary companies platform in Southern Africa that provides inexpensive and dependable monetary companies to a buyer base of over 17 million throughout Africa, Asia and Europe.
With over 100 million transactions up to now, our core was constructed offering worldwide cash transfers and from this base, we’ve developed a set of companies to deal with the broader monetary wants of our prospects. We now function in over 60 nations and throughout over 500 remittance corridors.
We’re a enterprise that places the client on the centre of all the pieces we do, and for that cause, we serve purchasers throughout bodily and digital channels, by varied fee strategies (money, card, pockets) in addition to a variety of engagement platforms together with WhatsApp, USSD, contact centre, App, web site, brokers and a department and sales space community.
Mukuru has, for the fifth consecutive yr, been listed as one of many prime 100 Cross Border Funds companies on this planet within the 2024 FXC Intelligence High 100 Cross-Border Fee Firms (https://apo-opa.co/3DonDyI), one in every of solely six African corporations to obtain this accolade.
In 2023, Mukuru formally ranked sixth on the LinkedIn High Firms Listing in South Africa.
Mukuru was celebrated for innovation and excellence on the 2023 Africa Tech Competition Awards, receiving the Fintech Innovation of the Yr Award – an acknowledgment of the transformative energy of monetary expertise in driving financial progress, monetary inclusion, and digital transformation.
In 2024, Mukuru received the IAMTN Funds Community Prospects Expertise Excellence Award for setting a excessive bar in distinctive buyer satisfaction in cross-border fee companies. Moreover, Mukuru was formally accredited as a 2024 High Employer in South Africa by the High Employers Institute.
Additional info could be discovered at www.Mukuru.com.
