New fintech partnership set to triple Africa's cross-border market to $1tn

Source: Supplied. Andy Jury, Mukuru's Group CEO and Tendai Tizirai, Mukuru Head of Expansion.

The partnership links two advanced fintech platforms to deliver faster, more affordable, and inclusive remittance services across Africa, Asia, and beyond. Mukuru’s technology-led Southern African infrastructure combines with MoneyGram’s global reach to strengthen cross-border payment ecosystems.

“This is a milestone moment for Mukuru and the communities we serve. Together with MoneyGram, we are not just extending our network — we are building a technology bridge between traditional cash services and digital ecosystems. Our shared goal is to make cross-border payments simpler, faster, and more inclusive,” said Mukuru Group's chief executive officer, Andy Jury.

Customers can now access MoneyGram’s extensive payout network across Asia, East Africa, and West Africa, with funds receivable via cash pickup, direct bank transfer, or mobile wallet. At the same time, MoneyGram clients can tap into Mukuru’s network of over 1,250 outlets and a wide range of agent and partner locations across Southern Africa, ensuring liquidity and reliable last-mile delivery.

The collaboration:

• Bridges cash and digital ecosystems, serving both banked and underserved customers in emerging markets, while API-driven interoperability enables real-time settlement and seamless switching between cash and digital transactions.
• Mobile-first access allows customers to transact easily via Mukuru’s app, WhatsApp, USSD, or web channels, reflecting how users across Africa engage with financial services.
• Best-in-class compliance and security ensure that transactions remain safe, regulated, and simple, giving customers confidence in sending and receiving money across borders.

“We partnered with Mukuru for their strong local presence and trusted brand across Southern Africa. What makes this collaboration so powerful is our shared commitment to putting the consumer first.

"Together, we’re advancing financial inclusion by meeting customers where they are — whether through cash, mobile, or digital channels — and ensuring they enjoy the best possible experience at the best possible price. This partnership is a direct reflection of that shared mission,” said Colin Marnewecke, VP, Sales - Africa at MoneyGram.

By combining Mukuru’s regional infrastructure with MoneyGram’s global footprint, the partnership strengthens cross-border financial networks, making international payments faster, more secure, and more accessible than ever.

The partnership builds on both parties' track records of fintech innovation and strategic alliances with other key global distribution providers.