Mukuru, a prominent fintech platform in Africa, has teamed up with MoneyGram to enhance cross-border payments across multiple regions including Africa, Asia, and beyond.
This collaboration integrates Mukuru’s technology with the global MoneyGram network, offering optimized, affordable, and inclusive remittance services.
Mukuru-MoneyGram Partnership Highlights
- Global reach allows Mukuru customers to access MoneyGram’s payout network across Asia, East, and West Africa through various methods like cash pickup, bank account transfers, or mobile wallets.
- Local strength ensures that MoneyGram users can leverage Mukuru’s extensive network of 1.250 outlets in Southern Africa, ensuring liquidity and efficient last-mile delivery.
- Inclusive options combine cash and digital systems to serve both banked and underserved customers with tailored solutions for emerging markets.
The partnership also focuses on technology-driven integration:
- API-based interoperability facilitates real-time settlements and flexible switching between digital and cash transactions.
- Mobile-first access enables customers to transact through Mukuru’s app, WhatsApp, USSD, or web channels in line with customer behavior across Africa.
- Enhanced compliance and security measures ensure safe and regulated transactions while maintaining ease of use for customers.
The expected tripling of Africa’s cross-border market to USD 1 trillion by the next decade, as projected by Oui Capital’s latest report, underscores the significance of such partnerships. By merging Mukuru’s optimized Southern African infrastructure with MoneyGram’s global network, millions of users can enjoy improved access, flexibility, and security in their money transactions.
Mukuru’s Mobile Wallet Launch
In January 2025, Mukuru introduced a mobile wallet service for Zimbabwe. The initiative came after the company secured a Deposit-Taking Microfinance Institution (DTMFI) license from the Reserve Bank of Zimbabwe. This wallet provided dual functionality for domestic and international money transfers via mobile phones, secure fund storage, and free cashout services for international transfers.
