Fintech firm Mukuru launches new mobile wallet service in Malawi.

Mukuru has recently launched a new mobile wallet in Malawi, aiming to promote financial inclusion by providing a secure, digital alternative to traditional banking. This wallet is especially important in a country where many people rely heavily on cash. The wallet allows users to send and receive money, both locally and internationally, as well as store funds and even earn interest quarterly on their balances.

One of the unique features of the Mukuru Wallet is the division into two pockets: Nyanja, for domestic transactions and deposits, and Moyo, specifically for international money transfers. No fees are charged when cashing out from the Moyo pocket, making it a cost-effective solution for Malawians receiving money from abroad. 

This initiative aligns with Mukuru's broader strategy to modernize financial services in Malawi and provide secure, efficient payment solutions for individuals and businesses alike.