Africa’s leading remittances Fintech, Mukuru, has disclosed that it will be providing a bonus in the form of additional monetary support to Malawian recipients when they collect funds at any Mukuru Orange booth or branch. The bonus forms part of Mukuru’s ongoing mission to empower local communities in Africa through financial inclusion.
Data from the World Bank shows Malawi has received over 189 million US dollars from remittances in 2020 alone, an exponential increase compared to just over 39 million US dollars in 2016.
Malawi Country Manager at Mukuru, Charles Phiri, explained that the World Bank data indicates how people in Malawi have benefitted financially from remittance flows into the country over the last few years. With increasing pressures on families to pay for basic needs, especially during Covid-19, we have looked at how we can further support the communities in Malawi.
“The bonus will ensure people have extra money in their pockets for groceries, school fees, farming and airtime,” said Phiri.
Mukuru is just one of the Fintech’s on the rise in Malawi, and they distinguish themselves by the 600 Orange Booths and branches that serve communities in rural and metropolitan areas, the use of the latest web-based technologies and a customer base of over 10 million across Africa, Asia and Europe.
Phiri disclosed that since inception, the company has taken pride in the purpose underpinning remittance flows – the need to support families in the country of origin.
He said, “We are driven by this purpose when we consider the needs of families in the different countries we serve. We are giving recipients who collect at our Orange Booths an additional 2% on the payout value of any Mukuru remittance to Malawi from South Africa, Zimbabwe, Zambia, Botswana, Lesotho and 5 percent for remittances received from the UK. For example, if a sender transfers K50, 000 from any of the qualifying African countries, their loved ones in Malawi will receive K51, 000, or they will receive K52, 500 if a sender transfers money from the UK.”
It is not the first time Mukuru has given back to communities in Malawi – giving back is a part of the Mukuru DNA and supporting their customers. In November 2021, they ran a campaign giving cash rewards to the value of K10 million to support Malawian families with their farming needs during planting season.
Mukuru is a leading Next Gen Financial Services Platform that offers affordable and reliable financial services to the emerging consumer in Africa.
With over 100 million transactions to date, our core was built providing International Money Transfers and from this base, we’ve developed a set of services to address the broader financial needs of our customers.
We are a business that puts the customer at the centre of everything we do, and for that reason, we serve clients across physical and digital channels, by any means of payment methods (cash, card, wallet) as well as a range of engagement platforms including WhatsApp, USSD, contact centre, App, website, agents and a branch and booth network.
Mukuru has been listed as one of the leading 150 cross-border companies globally in the 2020 FXC intelligence Incumbents vs Challengers in Cross-Border Payments
Mukuru have won many awards including the below two in 2021:
In July 2021, Mukuru also took the top honours for Most Innovative Financial Services Provider South Africa 2021 at the World Economic Magazine Award Winners 2021 as well as at the International Business Magazine Award 2021.
In April 2021, Mukuru took the top honours for Most Innovative Online Remittance App – South Africa, 2021 at the Global Brand Awards 2021.Follow and Subscribe Nyasa TV :