{"id":3501,"date":"2021-01-31T18:51:29","date_gmt":"2021-01-31T18:51:29","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=3501"},"modified":"2021-01-31T17:45:39","modified_gmt":"2021-01-31T17:45:39","slug":"mukuru-expands-to-more-african-countries","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mukuru-expands-to-more-african-countries","title":{"rendered":"Mukuru expands to more African countries"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>CAPE TOWN – CAPE Town-based remittance and money transfer business, Mukuru, has said that more customers joined its platform after informal platforms took a knock during the Covid-19 lockdown.<\/p>\n

Mukuru chief executive Andy Jury said Mukuru has now partnered with WorldRemit, the online money transfer business that provides international money transfer services in more than 50 countries, to expand its network into Zimbabwe.<\/p>\n

Jury said the Mukuru-WorldRemit alliance had been a fantastic example of a synergistic partnership.<\/p>\n

\u201cWe\u2019ve enabled WorldRemit to offer broader, deeper pay-out networks to their customers, and the transactions we assist them to pay out mean we fill \u2018white space\u2019 in our network, which in turn helps us to run more efficiently,\u201d said Jury.<\/p>\n

Mukuru, is an African FinTech company founded in 2004. The business has nearly 2 million senders, 5m recipients, and has carried out about 45m transactions to date.<\/p>\n

Jury said some customer segments were exceptionally hard hit during lockdown, presumably because their ability to earn an income was acutely affected.<\/p>\n

Jury said there was a large core of transacting customers who turned out to be resilient; sending regular amounts throughout lockdowns and restrictions.<\/p>\n

\u201cWe believe this is the result of the purpose underpinning remittance flows \u2013 the need to support families in the country of origin.<\/p>\n

\u201cCustomers were driven to do this, even if it meant making other personal sacrifices,\u201d said Jury.<\/p>\n

The remittances services were declared an essential service during the lockdown restrictions to curb the spread of the Covid-19 pandemic.<\/p>\n

South Africa moved to level 3 lockdown late in December after the country breached the one million mark of confirmed Covid-19 cases while Zimbabwe went into a hard lockdown as the entire country was declared a coronavirus hotspot as the infection rates drastically surged in all the country\u2019s regions.<\/p>\n

\u201cWe remain cautiously optimistic we can continue in the year ahead to layer new products and services onto our platform to unlock value and move our customers up along the financial inclusion curve.<\/p>\n

\u201cWe will also constantly look to build our network and footprint across Africa and beyond, which will allow us to grow our business not only in terms of the breadth of relevant products and services we offer, but in the depth of customer markets we serve,\u201d said Jury.<\/p>\n

[email protected]<\/p>\n

BUSINESS REPORT<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. CAPE TOWN – CAPE Town-based remittance and money transfer business, Mukuru, has said that more customers joined its platform after informal platforms took a knock during the Covid-19 lockdown. Mukuru chief executive Andy Jury said Mukuru has now partnered with WorldRemit, the online money transfer business that provides international money transfer services […]<\/p>\n","protected":false},"author":84,"featured_media":3500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-3501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nMukuru expands to more African countries - South Africa<\/title>\n<meta name=\"description\" content=\"CAPE TOWN - CAPE Town-based remittance and money transfer business, Mukuru, has said that more customers joined its plat ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mukuru-expands-to-more-african-countries\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mukuru expands to more African countries\" \/>\n<meta property=\"og:description\" content=\"CAPE TOWN - 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