TOBACCO remains a cornerstone of Zimbabwe’s economy, playing a vital role in export earnings and sustaining rural livelihoods.
In 2024, the sector generated US$1,3 billion from raw tobacco exports—up from US$1,15 billion the previous year—boosted by strong global demand and favourable growing conditions.
This year’s auction season, running from April to August, is poised for further growth thanks to improved rainfall, a rise in registered growers, and supportive government policies.
Key measures include decentralised contract sales, expanded auction floors, and streamlined payment systems—all aimed at strengthening the sector.
Yet, despite these gains, smallholder farmers still face financial exclusion, grappling with limited credit access, unreliable payment channels, and prolonged delays in receiving earnings.
These persistent challenges underscore the urgent need for inclusive, tech-driven financial solutions to ensure farmers fully benefit from the industry’s growth.
Enter Mukuru, a leading financial services platform serving over three million customers in Zimbabwe. Through MukuruPay (formerly Enterprise Payments Platform), the company is advancing financial inclusion in agriculture.
The platform allows leaf buyers to disburse bulk payments efficiently, while the Mukuru Wallet empowers smallholder farmers to receive, access, and manage their earnings instantly—bridging the gap between productivity and financial access.
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“Mukuru appreciates that small-scale farmers form the backbone of Zimbabwe’s tobacco industry growth,” Kevin Nyakotyo, enterprise sales manager at Mukuru, said.
“However, they face unique challenges that require grassroots understanding and practical solutions.
"MukuruPay and the Mukuru Wallet are creating a digital ecosystem that empowers farmers and enterprise partners to participate more fully and efficiently.”
Mukuru is a leading next-generation financial services platform in Southern Africa, offering affordable and reliable financial services to a customer base of over 17 million across Africa, Asia, and Europe.
It now operates in over 70 countries and across more than 570 remittance corridors.
Mukuru has been listed among the top 100 Cross Border Payments businesses globally for the sixth consecutive year in the 2025 FXC Intelligence Top 100 Cross-Border Payment Companies.
In 2024, the company won the IAMTN Payments Network Customer Experience Excellence Award for exceptional customer satisfaction and was accredited as a Top Employer in South Africa for 2024 and 2025 by the Top Employers Institute.
In 2023, Mukuru ranked sixth on the LinkedIn Top Companies List in South Africa. It also received The Fintech Innovation of the Year Award at the 2023 Africa Tech Festival Awards for its role in driving economic growth and financial inclusion.
