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MukuruMukuru, a leading financial services provider, unveiled its much anticipated Mukuru Wallet, a digital store of value designed to revolutionize financial transactions in Zimbabwe by allowing users to fund their wallet, save money and access it anytime.
Speaking during the official launch of the wallet service Mukuru group chairman Bongai Zamchiya said they are unveiling an all inclusive platform that is set to transform lives across social classes while bringing convenience for all.
The wallet allows users to make transactions from the comfort of their homes, eliminating the need for long-distance travel to access funds or pay for essential services like food, school fees, and utilities.
However at the time of the launch the mukuru app was not yet available for the Zimbabwean market but reachable via a USSD *646#
Customers can now seamlessly send, receive and choose to store money from the local and international transfers. This functionality is particularly beneficial for Zimbabweans who rely on remittances from abroad. The mobile money wallet supports essential transactions such as electricity payments, DSTV subscriptions, and insurance bill settlements, making it a versatile tool for everyday financial management.
Mr Bongai Zamchiya added that money is a tool that is meant to siluport a specific service, hence they are creating the atmosphere that will connect people of various social classes around nations.
“We are launching tools, a financial tool that’s grounded in inclusions and not exclusion…” said Mr Zamchiya.
The mobile money service allows for multi access convenience. The wallet is available via USSD and WhatsApp, platforms that are familiar and easy to use for most customers.
The Mukuru Wallet is an inclusive, secure, accessible, and efficient digital platform that meets the financial needs of clients, many of whom have previously experienced barriers to receiving essential amenities.
The Mukuru group chief executive officer (CEO), Mr Andy Jury, highlighted that inclusivity is fundamental to what Mukuru does.
“At the heart of what we do, we believe it requires three key ingredients; Access, Trust and Education,” Mr Jury said
“Its about creating a product that people can identify with, that the understand, that doesn’t intimidate them, that they feel is representative of their needs,” he added.
The Mukuru Wallet embodies the company principles by addressing the key customer pain points which include enhanced security, customers no longer need to carry large sums of cash, reducing the risk of theft and loss, eliminating the need for long-distance travel to access funds or pay for essential services, saving customers both time and money.
With financial inclusion being at the core of Mukuru’s mission, their mobile Wallet enhances inclusion by providing greater access to local and international money transfers, offering a frictionless, efficient, and safer way to transact.
While the Mukuru Wallet is currently focused on individual users, it also offers significant benefits for businesses and organizations. The wallet facilitates large-scale payments, payroll processing, disbursements, and farmer payments, providing an additional layer of security and efficiency, partnering with business entities like Cottco, The United Nations, UNICEF. For example, the wallet can reduce the need for large seasonal payments by allowing businesses and aid organizations to disburse funds securely, ensuring beneficiaries have safe, continuous access to their money.
The launch of the Mukuru Wallet represents a significant step forward in Zimbabwe’s journey towards financial inclusion. By leveraging technology to bridge financial gaps, Mukuru has set a new standard for digital financial services. The wallet’s ability to serve both urban and rural communities, makes it a valuable instrument for individuals and businesses alike.
Deputy Minister of Finance, Mr David Kudakwashe Mnangagwa also spoke at the event, pointing out that the launch marked a significant expansion of financial services in Zimbabwe.
“The roll out of the Mukuru wallet in Zimbabwe comes at an opportune time given the substantial impact of diaspora remittances on our current account surplus…” stated Mr Mnangagwa.
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