Mukuru, a fintech company, has partnered with MoneyGram to boost cross-border payments across Africa and Asia, targeting both banked and underserved customers.
The agreement connects Mukuru's tech-driven Southern African infrastructure with MoneyGram's international network, bringing together two financial technology platforms to provide affordable and inclusive remittance services, according to the fintech.
This comes as analysts predict that Africa's cross-border payments market will increase to $1 trillion over the next decade, driven by mobile money adoption, digital wallets, and fintech partnerships.
Through the alliance, Mukuru customers can access MoneyGram’s expansive payout network across Asia, East, and West Africa with options to receive funds via cash pick-up, direct transfers to bank accounts, and mobile wallets, while MoneyGram customers tap into Mukuru’s owned network of over 1,250 outlets, extensive agent and partner locations across Southern Africa, ensuring liquidity and last-mile delivery.
At the core of the partnership is a technology stack; API-driven interoperability allows real-time settlement and switching between digital and cash transactions, while a mobile-first approach enables users to transact through the Mukuru app, WhatsApp, USSD, or web channels.
Andy Jury, group CEO of Mukuru commented: “This is a milestone moment for Mukuru and the communities we serve. Together with MoneyGram, we are not just extending our network — we are building a technology bridge between traditional cash services and digital ecosystems. Our shared goal is to make cross-border payments simpler, faster, and more inclusive."
Colin Marnewecke, vice president, sales, Africa at MoneyGram, added: "We partnered with Mukuru for their strong local presence and trusted brand across Southern Africa. What makes this collaboration so powerful is our shared commitment to putting the consumer first.
“Together, we’re advancing financial inclusion by meeting customers where they are — whether through cash, mobile, or digital channels — and ensuring they enjoy the best possible experience at the best possible price. This partnership is a direct reflection of that shared mission."
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