Mukuru’s Enterprise Payments Platform Revolutionises Zimbabwe’s Financial Sector

Financial services provider Mukuru has unveiled its cutting-edge Enterprise Payments Platform (EPP), a game-changer in Zimbabwe’s financial landscape. The platform is set to simplify and streamline financial transactions for businesses and individuals, further cementing Mukuru’s role as a leading innovator in the sector.

The EPP, which integrates various payment solutions, promises to enhance efficiency, reduce transaction costs, and widen access to formal financial services. The platform’s launch aligns with Mukuru’s mission to provide financial inclusion and empower underserved communities in Zimbabwe and across the region.

The EPP offers businesses a seamless way to manage payrolls, vendor payments, and bulk disbursements, among other functions. For individuals, it provides a secure, fast, and affordable means to send and receive money, pay bills, and make purchases.

Mukuru Group CEO Andy Jury described the EPP as a transformative tool designed to meet the unique needs of the Zimbabwean market.

“Our Enterprise Payments Platform is not just a technological solution; it is a bridge to financial inclusion. We are empowering businesses and individuals to transact with ease, reliability, and security,” Jury said.

Mukuru’s EPP launch comes at a time when Zimbabwe’s financial sector is undergoing significant changes. The rise of mobile money platforms and digital payment solutions has highlighted the need for robust, integrated systems capable of handling diverse financial needs.

The platform addresses challenges such as high transaction costs, limited financial literacy, and access to formal banking services in rural areas. By leveraging technology, Mukuru aims to bring more Zimbabweans into the financial fold, supporting the government’s National Financial Inclusion Strategy (NFIS).

Mukuru’s EPP has already garnered interest from local businesses and international investors. The company is collaborating with various stakeholders, including banks, fintech companies, and non-governmental organisations, to maximise the platform’s impact.

According to Mukuru Zimbabwe’s Country Director, Tawanda Mupawose, the platform’s scalability ensures it can accommodate the needs of small-scale enterprises and large corporations alike.

“The EPP is designed to grow with businesses. Whether you’re a small trader or a large enterprise, our platform offers solutions that cater to your specific requirements,” Mupawose said.

The launch of the EPP is expected to contribute significantly to Zimbabwe’s economic development by facilitating faster and more secure transactions. It also aligns with the government’s drive towards a cashless economy, reducing reliance on physical currency and improving transparency in financial dealings.

Economist Dr. Rudo Chikowore hailed the initiative, saying it could help reduce systemic inefficiencies in the financial sector.

“Platforms like Mukuru’s EPP can address key barriers to financial inclusion, such as high remittance fees and limited access to banking infrastructure. This is a step in the right direction for Zimbabwe’s economy,” Chikowore said.

Building on the success of its EPP, Mukuru plans to expand its product offerings to include savings and loan services, further strengthening its position in Zimbabwe’s financial ecosystem. The company is also exploring opportunities to extend the platform to other African markets.

Mukuru’s Enterprise Payments Platform is more than a financial tool; it is a statement of intent to modernise Zimbabwe’s financial systems and drive inclusive growth. With its focus on innovation, accessibility, and partnerships, Mukuru is poised to lead the charge in redefining how Zimbabweans interact with money.

The platform has set the stage for a more integrated, efficient, and inclusive financial sector, marking a significant milestone in Zimbabwe’s journey towards a digital economy.

SOURCE: THE ZIMBABWE MAIL