Mukuru, one of Africa’s largest remittance providers, has announced a partnership with global online money transfer service WorldRemit to facilitate money transfers to Zimbabwe from across the globe. The partnership will be instrumental in bringing world-class financial services to Zimbabweans and generating new synergies for African financial inclusion.
“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,” says Andy Jury, CEO of Mukuru.
With many families in dire need of financial resources during the coronavirus pandemic, the partnership deal enables WorldRemit customers in over 50 countries including the United Kingdom, United States, Australia, New Zealand, Canada and Europe to send money to their loved ones in Zimbabwe.
Recipients are now able to collect their WorldRemit remittance at any of Mukuru’s 120 orange booths and branches, which are located across the country in both rural and peri-urban areas. The money transfer service is operational for six days a week and offers cash in US dollars. Customers will not have to endure long queues and can collect their cash quickly and safely.
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This deal expands the options available to Zimbabwean families to collect their remittances, which are, for many, an essential lifeline. “By combining our two companies’ strengths, and linking the first mile (United Kingdom, United States, Australia, New Zealand, Canada and Europe), to the last mile (Zimbabwe), customers will benefit from tremendous ease of access to world-class money transfer services at no additional cost,” says Jury.
The relationship between Mukuru and WorldRemit is particularly significant in that both players are simply leveraging their existing capabilities and resources – and neither company has to invest or generate new resources to make it work.
“Having recognised the challenges that so many Zimbabwean families are facing, both of our leadership teams were able to cut to the chase and find a solution very quickly – whilst still meeting all the financial and regulatory requirements of the partnership,” added Jury.
“We are delighted that both Mukuru and WorldRemit can come together to be part of the solution for so many of our Zimbabwean customers. We at Mukuru plan to roll out further innovations in the very near future.”
