Money Matters

Using Mukuru and Zoona vs the Traditional Banking System

Last year, we uncovered some interesting stats on the rise and use of mobile telephones in banking and the financial services sector in general. We examined the increase in usage on the continent and in Zambia, looked at how this gave rise to services like M-Pesa in Eastern Africa and Zoona in Zambia and explained how you could take advantage of the wide network of partners that are collaborating to make it easier for you to get money to your loved ones back home as quickly and easily as possible. You can download that edition here.

This month we go back and provide some more data for those living outside the borders of Zambia on the level of access to mobile financial services in the country and why it makes more sense to use a service like the one offered by Mukuru and Zoona’s partnership than it does using the more traditional banking system which remains inaccessible to a large portion of the general population.

mobile banking in zambia

According to an article by the World Bank based on a FinScope 2015 Survey, levels of formal financial inclusion increased from 23 percent of Zambian adults in 2009, to 38 percent in 2015 – a much slower rate than the growth shown in mobile financial services as explained in this month’s article (Issue 33 – June 2018 Edition). The article goes on to explain that the situation is worse in rural areas where Zambians are more excluded from formal financial services, especially women.

You can read the full article in Issue 33 (June 2018) of ZASA Magazine to understand the context of this post, it is supplementary material.

Download links (free) – You now have the option to download the Magazine in HD (bigger but super crystal clear kinda nice) or Low Res (smaller but still part of the cool crowd nice).

Low Res Version ZASA Magazine - Issue 33 - June 2018 (LRes)

HD Version ZASA Magazine - Issue 33 - June 2018 (HD)

Do you have questions or comments you’d like us to pass on to Mukuru for you? Submit them on the form below and we will make sure they get back to you.

Visit Mukuru.com to start your own cheaper and more secure money transfer journey!

Tutorial Videos

Sending money from the UK & Europe is easy!

Mukuru makes sending money from the UK & Europe easy! Just follow the 3 simple steps in the video. Once your account is set up it takes less than 2 minutes to send money from anywhere! Visit www.mukuru.com to find out more.

Send Money to Zimbabwe, Malawi, Zambia and more

Instant cash to cash transfers from South Africa and UK to Zimbabwe, Malawi, Zambia, Kenya and more! The service is easy, fast and safe.

The Mukuru App

The Mukuru app is your all in one app for managing your Mukuru account. To download it visit www.app.mukuru.com from your mobile phone. – This is the original launch video and some of the details in the video have changed. To find out more visit on Facebook or call Mukuru on 086 001 8555.

Associated Links

Sources: Mukuru | ZICTA | World Bank

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