WorldRemit expands its network of remittances into Zimbabwe
Mukuru, one of Africa’s largest remittance providers, has announced a partnership with the large 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.
Andy Jury, CEO, Mukuru says “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.”
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.
Pardon Mujakachi, Head of Sub Saharan Africa and Country Director for Zimbabwe at WorldRemit says “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.”
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 must invest or generate new resources to make it work.