Remittance players join forces to increase access to remittances in Zimbabwe
Contacts
For PR information please contact:
Genevieve Dowokpor
gdowokpor@worldremit.com
LONDON-Wednesday 10 June 2020 [ AETOS Wire ]
(BUSINESS WIRE) -- WorldRemit, the
global online money transfer service has announced a partnership with
Mukuru, one of Africa’s largest remittance providers to broaden options
for cash pick up in Zimbabwe. The partnership will be instrumental in
bringing world-class financial services to Zimbabweans and generating
new synergies for African financial inclusion.
Pardon
Mujakachi, Head of Sub Saharan Africa and Country Director for Zimbabwe
at WorldRemit says “We have witnessed an increasing demand as more
Zimbabweans are using our digital app to send money to their loved ones.
Through this partnership we are able to drive our service further and
wider, providing access to remittances even in small towns and growth
points across the country. We want to ensure that everyone, everywhere
has access to our service which offers a fast and convenient user
experience, affordability and easy access to cash.”
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. These types of synergies bring
immediate value to our customers, and alleviates their day to day
challenges with user-friendly solutions.”
With
many families in dire need of financial resources during the
coronavirus pandemic, the partnership 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 far and wide 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.
“WorldRemit
is 25% more affordable than the traditional players and banks. Our
extensive cash collection network, flexible cash collection hours and
lower fees, offer value for money to our customers. This proves us to be
the most affordable means of sending money to Zimbabwe.” says
Mujakachi.
Global solutions, local expertise
The
pioneering deal with WorldRemit, a leading global player in money
transfers, was made possible by a strong synergy between the two
companies and a shared mission to support Zimbabwe’s large diaspora in
their quest to send critical financial resources to families back home.
The WorldRemit platform is 100% digital pay in for customers across the
diaspora in countries such as the United States, United Kingdom and
Europe in particular, while Mukuru is an established remittance provider
in Zimbabwe.
The
relationship between WorldRemit and Mukuru is particularly significant
in that both players are simply leveraging their existing capabilities
and resources – and neither company has to invest or generate new
resources to make it work.
“Having
recognised the challenges that so many Zimbabwean families are facing,
both of our leadership teams were able to cut to the chase and find a
solution very quickly – whilst still meeting all the financial and
regulatory requirements of the partnership,” added Jury. “We are
delighted that both Mukuru and WorldRemit can come together to be part
of the solution for so many of our Zimbabwean customers.”
About Mukuru
Mukuru
is an Africa-based FinTech that enables safe, affordable, reliable
financial services to underserved communities. With over 30 million
cross-border transactions over the last decade, we are one of Africa’s
largest remittances-led FinTech’s. Our remittance service offers
customers the opportunity to send money to their relatives or friends in
over 20 countries across Africa and Asia.
Additionally,
we offer critical customer services such as Funeral Cover, The Mukuru
Money Card and payment solutions for businesses in emerging markets.
About WorldRemit
WorldRemit
is a leading fintech providing international money transfer services.
We disrupted an industry previously dominated by offline legacy players
by taking international money transfers online - making them safer,
faster and lower-cost. We currently send from 50 to 150 countries,
operate in 6,500 money transfer corridors worldwide and employ over 800
people worldwide.
On
the sending side WorldRemit is 100% digital (cashless), increasing
convenience and enhancing security. For those receiving money, the
company offers a wide range of options including bank deposit, cash
collection, mobile airtime top-up and mobile money.
Backed
by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London,
United Kingdom with a global presence in the United States, Canada,
South Africa, Japan, Singapore, the Philippines, Australia and New
Zealand.
For more information visit www.worldremit.com
Contacts
For PR information please contact:
Genevieve Dowokpor
gdowokpor@worldremit.com
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