Online Reporter
Herald Correspondent
ZIMBABWE’s tobacco industry continues to thrive, with small-scale farmers forming the backbone of the $1.3 billion industry.
The Southern African country is fast regaining its 2010s status as Africa’s largest tobacco producer, owing to its strong earnings and increased production.
This is despite smallholder farmers, who are the main drivers of this growth, continuing to face persistent barriers to financial access.
Mukuru, through its tech-driven financial services, has stepped in to break down those hurdles and power a more inclusive tobacco value chain in Zimbabwe.
Mr Kevin Nyakotyo, Mukuru Enterprise Sales Manager, has underlined that by partnering with farmers and enabling leaf buyers to make faster digital payments, the company is streamlining access to earnings and boosting efficiency.
The financial services company’s digital innovation has partnered with farmers and enabled leaf buyers to pay farmers faster through digital innovation.
Mr Nyakotyo said as a leading financial services platform, Mukuru saw the need to provide a technology-driven solution to ensure farmers benefit more fairly from the sector’s growth.
“Mukuru appreciates that small-scale farmers form the backbone of Zimbabwe’s tobacco industry growth. However, they face unique challenges that require grassroots understanding and practical solutions. MukuruPay and the Mukuru Wallet are creating a digital ecosystem that empowers farmers and enterprise partners to participate more fully and efficiently,” he said.
Mukuru, through its tech-driven financial services, has stepped in to break down those hurdles and power a more inclusive tobacco value chain in Zimbabwe.
Mr Nyakotyo highlighted that in 2024, Zimbabwe earned a record US$1.3 billion from raw tobacco exports, up from US$1.15 billion in the previous year, further cementing the vital role of agriculture to the economy.
“This year’s auction season, from April through August, is building on that momentum thanks to favourable rainfall, more registered growers, and enabling government policies such as decentralised contract sales and expanded auction infrastructure,” he added.
Yet despite these gains, small-scale farmers often face financial exclusion due to limited access to credit and reliable payment systems. Many experience long delays in receiving proceeds from their sales, a situation that undermines livelihoods and discourages reinvestment in farming operations.
Recognising this gap, Mukuru is leveraging its digital payments platform, MukuruPay, to provide a more efficient and accessible financial ecosystem for the tobacco sector. The platform allows tobacco leaf buyers to disburse bulk payments securely and instantly, while farmers can access their earnings through the Mukuru Wallet, removing the reliance on slow, traditional banking channels.
Mr Nyakotyo stressed that the platform is already proving to be a game-changer during the current tobacco marketing season. “Farmers no longer have to travel long distances or wait days to receive payment. With a Mukuru Wallet, they receive funds instantly and can cash out at thousands of Mukuru booths and agents across the country or use the funds directly for everyday needs,” he said.
The Mukuru Enterprise Sales Manager emphasised that the company’s push into agriculture aligns with its broader mission of driving financial inclusion across underserved communities. With over 3 million customers in Zimbabwe and 17 million globally, Mukuru continues to expand its footprint by integrating digital solutions that address real economic challenges.
“Our goal is to build financial resilience. By digitising payments and reducing friction in cash flow, we are not just helping individual farmers, we are strengthening value chains and supporting rural economic development,” said Mr Nyakotyo.
Mukuru’s approach has earned it international recognition, including the 2024 IAMTN Payments Network Customer Experience Excellence Award, and a spot in the 2025 FXC Intelligence Top 100 Cross-Border Payment Companies.
