Mukuru, one of the largest international money operators and remittance companies in Africa, has confirmed that it has acquired Zoona Malawi’s operational assets along with the technology systems that support its Malawian operations.
Zoona, which has worked with Mukuru for four years as a trusted partner, is an Africa-based fintech that enables entrepreneurs to bring safe and reliable financial services to underserved communities in Malawi and elsewhere.
“Mukuru empowers Africa’s financially underserved migrant workers to be included in the formal financial ecosystem and to move money in a convenient, safe and affordable way,” says Andy Jury, CEO, Mukuru.
“This acquisition will bring the benefits of our extensive products and cutting-edge technology to the citizens of Malawi – giving them better options and safer mechanisms to send money to loved ones and ultimately uplift their communities.”
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The acquisition will extend Mukuru’s African footprint deep into both the urban centres and rurally across Malawi – thus eliminating the time and money that people have to spend travelling long distances to local towns to claim remittances. In short, access to Mukuru’s services for rural dwellers will lessen the erosion of wealth and provide more opportunities for financial upliftment.
Following the acquisition, Zoona Malawi’s agents will operate as Mukuru agents benefiting from a wider product range to offer customers. In addition, agents will benefit from being part of the SADC regional network, increasing their regional exposure and potentially boosting earnings over time.
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