MUKURU, a leading financial services platform, is revolutionising the way aid, payroll, and commercial payments are delivered in Africa.
Mukuru’s Enterprise Payments Platform (EPP) is empowering millions of people, particularly in underserved communities in Malawi and Zimbabwe by leveraging its extensive network and innovative technology.
Traditional methods of disbursing aid, processing payroll and making commercial payments often face significant challenges, especially in remote and rural areas.
High transaction fees, slow processing times, and limited access to financial services hinder the efficient delivery of essential funds.
However, Mukuru’s EPP offers a solution to these challenges, providing a secure, efficient, and cost-effective way to make bulk payments.
The EPP enables aid organisations to reach vulnerable populations more effectively.
Mukuru has facilitated the timely distribution of funds to disaster victims and marginalised groups, helping them rebuild their lives and break the cycle of poverty by partnering with organisations like CADECOM and Yamba Malawi.
Mukuru Head of Group Commercial, Michael Scott, stated that strategic collaborations with United Nations agencies, including the World Food Programme, WHO, UNICEF, and IOM, are significantly impacting the evolution of the financial services industry.
“We are the largest international person-to-person money transfer organisation in Southern Africa that has over the years evolved along with our clients’ needs into being a fully-fledged next-generation financial services platform that caters for the emerging African consumers’ needs and are not just limited to remittances,” said Scott.
Meanwhile, Mukuru’s payroll solutions provide businesses with a reliable and efficient way to pay their employees, even in the most remote areas.
By eliminating the need for physical cash and reducing transaction costs, Mukuru empowers workers to access their earnings more easily.
The EPP simplifies commercial transactions for businesses of all sizes. By partnering with organisations like the Premier Tobacco Auction Floors, Mukuru ensures that farmers and small businesses receive timely payments, boosting economic activity and improving livelihoods.
Through this partnership, the company has established a semi-permanent distribution facility at the camp, equipped with tellers, VSAT technology for internet connectivity, and a dedicated team to ensure smooth fund disbursements.
“By providing a reliable, traceable method of cash distribution, we’ve not only supported refugees but also created job opportunities within the camp. Our tellers are recruited from among the refugees. This initiative has contributed to both financial inclusion and upward social mobility for the camp’s residents, empowering them with a source of income while also fostering a sense of stability and hope,” added Scott.
Mukuru’s commitment to financial inclusion is transforming the lives of millions of Africans. By providing access to essential financial services, Mukuru is helping to build stronger, more prosperous communities.
As Mukuru continues to expand its reach and innovate its services, it is poised to play a pivotal role in Africa’s economic development.