Next-generation financial services provider Mukuru has been awarded a Deposit-Taking Microfinance Institution licence in Zimbabwe. This important achievement enables Mukuru to expand on its mission of driving financial inclusion in the country, especially among underserved groups such as SMEs, people with disabilities, women, youth and rural communities.<\/p>\n\n\n\n
Financial inclusion in Zimbabwe is at its lowest in rural areas, where 63% of the population lives. Mukuru, which has been part of Zimbabwe\u2019s financial services landscape for the past 20 years, serves over three million loyal customers. Its trusted and extensive network, with digital capabilities, has 250 owned access points, with 40% of these in rural areas. In addition to this, it has more than 500 partner access points available across the country. <\/p>\n\n\n\n
Mukuru\u2019s Group CEO Andy Jury says being awarded the DTMFI licence is a significant milestone for Mukuru because its mission aligns perfectly with Zimbabwe\u2019s National Financial Inclusion Strategy, which is spearheaded by the Reserve Bank of Zimbabwe.<\/p>\n\n\n\n
\u201cWe are excited to leverage our extensive network and digital capabilities to further empower underserved communities \u2013 particularly SMEs, women, youth, people with disabilities and rural populations \u2013 and drive greater financial inclusion across the country.\u201d<\/p>\n\n\n\n
Jury says Mukuru is uniquely positioned to bridge the gaps between formal and informal financial services in Zimbabwe by unlocking new economic opportunities through the provision of innovative financial products that enable people to send, store, spend and potentially borrow with ease.<\/p>\n\n\n\n
\u201cRelevant financial inclusion depends on the uptake of products and services. To this end, Mukuru\u2019s trusted brand and reputation as a reliable financial services provider is expected to support the building of customer trust and drive the adoption of digital offerings,\u201d explains Jury. <\/p>\n\n\n\n
Mukuru Zimbabwe Financial Services CEO Doug Tait-Knight says meaningful financial inclusion uplifts communities by enabling them to access financial services and enter the mainstream economy.<\/p>\n\n\n\n
\u201cDTMFI service offerings cut out travel costs and enhance secure and inclusive practices as money does not need to be collected. Currently, more than 90% of people who receive remittances cash them out and so we are well-positioned now to help them along their digital financial inclusion journeys. Our DTMFI licence will enable us to deliver innovative digital solutions that address the specific needs of our customers, from those in wheelchairs who struggle to access cash from ATMS, to small business owners seeking to grow their enterprises. We are delighted that our strategy aligns with the national financial inclusion strategy,\u201d he says.<\/p>\n\n\n\n
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Next-generation financial services provider Mukuru has been awarded a Deposit-Taking Microfinance Institution licence in Zimbabwe. This important achievement enables Mukuru to expand on its mission of driving financial inclusion in the country, especially among underserved groups such as SMEs, people with disabilities, women, youth and rural communities. Financial inclusion in Zimbabwe is at its lowest […]<\/p>\n","protected":false},"author":59,"featured_media":72127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16131,565,103,38,258,260,9059,13,262],"tags":[13163,13160,926],"class_list":["post-72183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","category-banking-finance","category-mobile","category-networking","category-newsletter","category-regional-news-newsletter","category-south-africa","category-top-stories","category-used","tag-andy-jury","tag-mukuru","tag-zimbabwe"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/72183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/comments?post=72183"}],"version-history":[{"count":4,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/72183\/revisions"}],"predecessor-version":[{"id":72522,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/72183\/revisions\/72522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media\/72127"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media?parent=72183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/categories?post=72183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/tags?post=72183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}