Mukuru’s New Wallet: A Game-Changer for Sending, Storing, and Spending Money in Zimbabwe

In Zimbabwe’s ever-evolving digital finance landscape, mobile money remains a crucial player—bridging financial gaps, offering convenience, and enabling seamless transactions. One of the latest innovations to hit the scene is the Mukuru Wallet, made possible by Mukuru’s new Deposit-Taking Microfinance license, granted by the Reserve Bank of Zimbabwe in December.

But with a variety of mobile wallets already available, what makes the Mukuru Wallet stand out?

Why Choose the Mukuru Wallet?

Mukuru’s pitch is straightforward and practical:

  • Guaranteed cash when you need it

  • Lower local money transfer costs

  • Secure storage for your funds

  • Free cash-out on international remittances

  • Anytime, anywhere money transfers

  • Utility payments including airtime, ZESA, and DStv

Before the wallet’s introduction, Mukuru users could only withdraw received funds. Now, users can Send, Store, and Spend, marking a major shift in convenience and flexibility.

How the Wallet Works

The wallet is built around a dual-pocket system, each serving a different function:

1. Mahala Cash Out Pocket

  • All international remittances and aid funds are received here.

  • Free cash-outs are allowed from this pocket.

  • You can transfer funds from here to the other pocket at no cost.

  • Think of this as the classic Mukuru functionality, now with more options.

2. Transactional Pocket

  • Used for day-to-day purchases and payments, such as:

    • Buying airtime

    • Paying for electricity and DStv

    • Insurance payments

  • All domestic money transfers and cash-ins land here.

  • Cash-outs from this pocket incur a 1.7% fee.

This setup encourages users to transact digitally while still providing the flexibility to access cash when needed.

Can You Bypass the Cash-Out Fee?

It’s a clever system. While you can move funds from the Mahala pocket to the Transactional pocket for free, the reverse is not allowed. So no, you can’t game the system by transferring funds back and forth to avoid fees.

This ensures that international funds and aid—typically free to receive and cash out—stay within their intended usage channels, while domestic funds are steered toward more sustainable digital transactions.

RBZ Limits Apply

Just like other mobile wallets in Zimbabwe, the Mukuru Wallet operates within the limits set by the Reserve Bank of Zimbabwe (RBZ). Users should keep these in mind when planning transactions:

  • $500 – Maximum single transaction amount

  • $2,000 – Maximum monthly transaction limit

Final Thoughts

The Mukuru Wallet represents a smart evolution in how Zimbabweans can manage their money. Whether you’re sending funds locally, receiving from abroad, or paying for everyday essentials, Mukuru now offers a flexible, cost-effective solution tailored for the modern user.

And for platforms like Paynow, integrations with services that empower users and simplify digital transactions are always welcome. As more Zimbabweans embrace mobile-first financial tools, innovations like the Mukuru Wallet play a vital role in expanding access and choice.