• Thu. Nov 28th, 2024

Mukuru transforms African payments with enterprise payments platform

ByETimes

Nov 20, 2024

By Staff Writer

HARARE – Mukuru, a leading financial services platform, is reshaping the landscape of aid, payroll, and commercial payments across Africa through its Enterprise Payments Platform (EPP).

EPP is empowering millions, particularly in underserved communities in Malawi and Zimbabwe. Traditional payment methods often face significant hurdles, especially in remote areas.

High fees, slow processing times, and limited financial access hinder the efficient delivery of essential funds.

Mukuru’s EPP addresses these challenges by offering a secure, efficient, and cost-effective solution for bulk payments. The EPP tackles the difficulties businesses and aid organisations encounter when serving remote areas.

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’s Head of Commercial and Strategic Partnerships, Michael Scott, said Mukuru has built extensive partnerships with United Nations agencies, including UNICEF, the International Organisation for Migration, and the World Food Programme (WFP).

“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.

International NGOs, like Action Contre la Faim, have partnered with Mukuru to deliver cash transfers to remote households via Mukuru’s mobile disbursement service.

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. On the commercial side, Mukuru partners with organisations like Cottco and Premier Tobacco Auction Floors, to facilitate payments to small-scale farmers.

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.

Mukuru is a leading next-generation financial services platform that offers affordable and reliable financial services to a customer base of over 16 million people across Africa, Asia and Europe.

By ETimes

Leave a Reply

Your email address will not be published. Required fields are marked *