Redmi by Xiaomi

Redmi by Xiaomi

Xiaomi Mobile phones in Zimbabwe

Open
HomeBusiness

Mukuru Now A Deposit-taking Microfinance Business

3 months agoWed, 18 Dec 2024 10:30:02 GMT
Share on FacebookShare on TwitterShare on LinkedIn
Mukuru Now A Deposit-taking Microfinance Business

The Reserve Bank of Zimbabwe has granted Mukuru Financial Services Zimbabwe Limited authorization to conduct deposit-taking microfinance business under the Microfinance Act [Chapter 24:30].

This development allows Mukuru, renowned for its money transfer services, to now offer small loans to individuals and small to medium-sized enterprises (SMEs).

According to a notice from RBZ Registrar of Microfinance Institutions, P.T. Madamombe, the authorization is effective from December 16, 2024. Reads the notice:

It is hereby notified that Mukuru Financial Services Zimbabwe Limited, licensed in October 2024, has been authorised to conduct deposit-taking microfinance business in terms of the Microfinance Act [Chapter 24:30], with efffect from 16 December 2024.

This development means that, in addition to its remittance business, Mukuru now formally competes with EcoCash, Innbucks, OneMoney, and OMari.

Click here: Pindula WhatsApp Channel
wa.me/channel/0029Vb4GVea90x2nCSDImS1b

 

EcoCash, which has been the leader in the mobile money sector for about a decade since its launch, faces new competition.

More: Pindula News

Tags

6 Comments

Anonymous · 3 months ago
Well done mukuru
hoy · 3 months ago
vene plans once u give us money . they forgot it
Gorgeous Mpofu · 3 months ago
Finally, an honest player on the field - they will eat these other mbavas in a hurry
chipoko · 3 months ago
ko yangu ikabiwa
Noob · 3 months ago
Vane insurance - your money is SAFE
Learned Green Bomber · 3 months ago
Ngavatore ma robber vauye vatorewo

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback