Chronicle Editor
Online Writer
HARARE, Zimbabwe – 19 December 2024
Mukuru, a leading financial services provider in Southern Africa, has been granted a Deposit-Taking Microfinance Institution (DTMFI) licence in Zimbabwe.
This milestone is expected to bolster the country’s financial inclusion efforts, particularly among underserved groups such as small and medium enterprises (SMEs), women, youth, rural populations, and people with disabilities.
The DTMFI licence aligns Mukuru’s mission with Zimbabwe’s National Financial Inclusion Strategy, spearheaded by the Reserve Bank of Zimbabwe.
Speaking on the achievement, Mukuru Group CEO Mr Andy Jury said, “We are excited to leverage our extensive network and digital capabilities to empower underserved communities and drive financial inclusion across the country.”
With a trusted customer base exceeding three million and over 750 access points nationwide—40percent of which are in rural areas—Mukuru is positioned to bridge the gap between formal and informal financial services. The company plans to introduce innovative products enabling users to send, store, spend, and borrow money more efficiently.
Mr Doug Tait-Knight, CEO of Mukuru Zimbabwe Financial Services, highlighted the transformative impact of the licence: “This development will enable us to deliver tailored digital solutions that address the specific needs of our customers, from supporting SMEs to making financial services accessible for people with disabilities. It represents a significant step towards uplifting communities and integrating them into the mainstream economy.”
The new licence is expected to reduce transaction costs and expand the adoption of digital financial solutions, aligning with Mukuru’s broader vision of driving economic empowerment and financial inclusion across Zimbabwe
Online Reporter