Mukuru partners WorldRemit to service Zimbabwe
Global remittance service provider Mukuru has announced a partnership with online money transfer service WorldRemit to facilitate money transfers to Zimbabwe from across the globe.
The partnership enables WorldRemit customers in over 50 countries including the United Kingdom, United States, Australia, New Zealand, Canada and Europe to send money to recipients in Zimbabwe.
The companies explain that recipients can collect their WorldRemit remittance at any of Mukuru's 120 orange booths and branches.
According to a statement released by the companies, the deal was made possible by a strong synergy between the two companies and “a shared mission to support Zimbabwe’s large diaspora in their quest to send critical financial resources to families back home.”
The WorldRemit platform is 100% digital pay in for customers across the diaspora in countries such as the United States, United Kingdom and Europe in particular, while Mukuru is an established remittance provider in Zimbabwe.
Andy Jury, CEO, Mukuru said: “We are excited to be able to extend Mukuru’s valuable pay-out footprint to more customers, and to harness this opportunity with WorldRemit’s global reach to expand our fast-growing global presence - while simultaneously creating new opportunities for customer-led innovation on the continent. These types of synergies bring immediate value to our customers, and alleviates their day to day challenges with user-friendly solutions.”
Pardon Mujakachi, Head of Sub Saharan Africa and Country Director for Zimbabwe at WorldRemit added: “We are pleased that through this partnership we are able to further widen our network and together offer a much-needed service to Zimbabweans around the globe and at home. We have witnessed an increasing demand as more Zimbabweans are using our digital app to send money to their loved ones.”
In early May 2020 Mukuru acquired Zoona Malawi’s operational assets along with the technology systems that support its Malawian operations.
Jury said of the acquisition: “Mukuru empowers Africa’s financially under-served migrant workers to be included in the formal financial ecosystem and to move money in a convenient, safe and affordable way. This acquisition will bring the benefits of our extensive products and cutting-edge technology to the citizens of Malawi – giving them better options and safe mechanisms to send money to loved ones and ultimately uplift their communities.”
The companies did not disclose the value of the acquisition but said it will extend Mukuru’s African footprint deep into the urban centres and rurally across Malawi.