lands South Africa-to-Zimbabwe Remittance Corridor

London-based remittance company recently won South African Reserve Bank approval to assist Zimbabweans in South Africa in tandem with local partner Inter Africa. The dispensation is a massive boon for Mukuru, becoming a member of a unique clique of remitters that are able to service the two million plus diaspora of Zimbabweans eager to send support back home.

Other members include heavyweights Western Union and Moneygram, the usual suspects in old-school traditional remittances, yet, enter nimble, an encouraging sign that South African regulators are becoming more progressive as global pressures mount for more fluid systems for the unbanked remitter.

How can you use the service?

Travel to your nearest Inter Africa branch, with your passport, proof of employment and proof of address. Following your in-store signup you will be able to call Inter Africa’s sales team and place all subsequent orders over the phone, paying by cash deposit at your nearest First National Bank branch. Your lucky Zimbabwean recipient will receive an SMS to his cellphone instructing him to collect cash from the nearest local bank offering collections. Currently Mukuru collections are available at a host of CBZ and CABS banks around the country.

Not a moment too soon
The Inter Africa Mukuru offering will offer Zimbabweans working in South Africa a cheaper avenue of remittance. Currently the majority of support is sent back by taxis travelling the length and breadth of the country charging rates as high as 20% to deliver cash to the Zimbabwean recipient several days’ drive away.

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