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Next-generation financial services provider Mukuru will cease operations in the Kingdom of eSwatini at the end of June, marking a strategic shift in the company’s regional focus.
The decision, announced this week, follows a comprehensive internal review and was reached in consultation with the Central Bank of eSwatini (CBE), which is overseeing an orderly wind-down of services.
Mukuru Group CEO Andy Jury said the move was in line with the company’s evolving long-term objectives and thanked the CBE for its regulatory guidance and cooperation.
By Ruvarashe Gora
“We thank the Central Bank of eSwatini for its constructive engagement and oversight throughout our tenure in the Kingdom. This decision reflects a strategic review and has been taken to ensure an orderly exit that protects our customers,” said Jury.
During the transition period, Mukuru will honour all outstanding remittances and has urged customers to collect any pending payments in person at its Manzini or Mbabane branches before the June 30 deadline.
While the company will no longer process new transactions to or from eSwatini after that date, Jury confirmed that MTN MoMo customers will still be able to receive cross-border remittances from Mukuru users abroad, provided their Know Your Customer (KYC) requirements are up to date.
Mukuru emphasized that this statement does not constitute a continuation of financial services in the Kingdom post-June and assured users that all personal data will be managed in accordance with local data-protection regulations.
Founded to bridge the financial inclusion gap across underserved markets, Mukuru serves over 17 million users in more than 70 countries, offering services through both digital platforms and physical networks.
Despite the exit, the fintech company maintains strong momentum in Southern Africa and other emerging markets, where demand for cross-border payments and low-cost remittance services continues to grow.
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