Mukuru’s money transfer offers cash rewards to the Malawian community – Malawi Nyasa Times

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Africa’s Leading Remittance Fintech, Mukuruhas announced that it will be giving Malawian recipients a bonus in the form of additional financial support if they raise funds Mukuru Orange stand or branch. The bonus is part of Mukuru’s ongoing mission to empower local communities in Africa through financial inclusion.

World Bank data shows that Malawi received over US$189 million in remittances in 2020 alone, an exponential increase compared to just over US$39 million in 2016.

UK to Malawi Agent WhatsApp Flyer

Malawi Country Manager at Mukuru, Charles Phiri, explained that World Bank data shows how people in Malawi have benefited financially from remittances to the country in recent years. With increasing pressure on families to meet basic needs, particularly during Covid-19, we have been evaluating how we can continue to support communities in Malawi.

“The bonus will ensure that people have extra cash in their pockets for groceries, school fees, farming and airtime,” Phiri said.

Mukuru is just one of the emerging fintechs in Malawi, and they are distinguished by their 600 Orange Booths and branches serving rural and metropolitan communities, their use of the latest web-based technologies, and a customer base of over 10 million in Africa, Asia and Europe.

Phiri revealed that since its inception, the company has prided itself on the purpose of remittance flows – the need to support families in the country of origin.

He said: “This goal drives us as we consider the needs of families in the different countries in which we operate. We give recipients who collect from our Orange Booths an additional 2% on the payout value of any Mukuru transfer to Malawi from South Africa, Zimbabwe, Zambia, Botswana, Lesotho and 5 per cent for transfers from the UK. For example, if a sender transfers 50,000 Kash from one of the qualifying African countries, their loved ones in Malawi will receive K5 51,000, or they will receive K5 52,500 if a sender transfers money from the UK.”

It’s not the first time Mukuru has given back to communities in Malawi – giving back is part of Mukuru’s DNA and supporting their customers. In November 2021, they ran a campaign giving away Kt10 million in cash rewards to help Malawian families with their farming needs during the planting season.

Mukuru is a leading next generation financial services platform providing affordable and reliable financial services to emerging consumers in Africa.

With over 100 million transactions to date, our core has been built by providing international money transfers and from that foundation we have developed a range of services to meet the broader financial needs of our customers.

We are a company that puts the customer at the center of everything we do and for this reason we serve customers through physical and digital channels, with all payment methods (cash, card, wallet) as well as with a range of engagement platforms such as WhatsApp, USSD, Contact center, app, website, agents and a branch and booth network.

Mukuru was listed as one of the top 150 cross-border companies worldwide in the 2020 FXC Intelligence Incumbents vs Challengers in Cross-Border Payments

Mukuru has won many awards including the following two in 2021:

In July 2021, Mukuru also received the highest award for the most innovative financial services provider in South Africa 2021 at the Winner of the World Economic Magazine Award 2021 as well as at the International Business Magazine Prize 2021.

In April 2021, Mukuru received the top award for Most Innovative Online Money Transfer App – South Africa, 2021 at the Global Brand Awards 2021.

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