Mukuru brings instant payments to Zimbabwe’s tobacco farmers
- Staff Writer
- Jul 3
- 2 min read
As tobacco exports hit $1.3 billion, Mukuru’s digital payment tools are helping smallholder farmers overcome financial exclusion with faster, safer access to earnings.
Zimbabwe’s tobacco industry continues to power the nation’s economy, with 2024 earnings from raw tobacco exports reaching $1.3 billion, an impressive increase from $1.15 billion the previous year.
According to financial services platform Mukuru, the growth has been spurred by rising global demand, improved growing conditions, and favorable government policies.
Kevin Nyakotyo, Enterprise Sales Manager at Mukuru stated that this year’s tobacco auction season, running from April to August, has shown further momentum. “Key drivers include increased rainfall, more registered growers, decentralised contract sales, expanded auction floors, and more efficient payment systems. However, smallholder farmers, who are central to the sector—remain financially excluded in many ways,” he said.
Nyakotyo, however cautioned that challenges such as limited access to credit, slow disbursement of earnings, and unreliable payment channels persist, undermining the full economic potential for rural growers. In response, the fintech firm is leveraging technology to bridge the gap.
“Mukuru appreciates that small-scale farmers form the backbone of Zimbabwe’s tobacco industry growth. 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,” he stated
The MukuruPay platform, formerly known as Enterprise Payments Platform, is tailored for bulk fund disbursement. It enables leaf buyers to pay farmers instantly and securely, eliminating long waits and uncertainties around payments. When integrated with the Mukuru Wallet, farmers can immediately access, manage, and even save their earnings through their mobile phones.
The Mukuru Enterprise Sales Manager stressed that the innovation is timely, as smallholder participation in Zimbabwe’s tobacco economy is growing rapidly, and the need for fast, secure, and transparent payment systems has become critical.
With a strong presence in Zimbabwe, Mukuru serves over 3 million customers in the country and more than 17 million globally across Africa, Asia, and Europe. The company operates in over 70 countries and supports over 570 remittance corridors, offering services via physical and digital channels, from USSD to WhatsApp and in-person agents.
By placing financial inclusion at the heart of agricultural development, Nyakotyo underlined that Mukuru is playing a transformative role in strengthening Zimbabwe’s rural economy. “As the 2025 auction season progresses, more farmers stand to benefit from instant, technology-enabled access to their hard-earned income,” he said.
