RBZ Authorizes Mukuru Financial Services to Conduct Deposit-Taking Microfinance Business
Written by Staff Reporter on December 19, 2024
The Reserve Bank of Zimbabwe (RBZ) has announced that Mukuru Financial Services Zimbabwe Limited has been authorized to operate as a deposit-taking microfinance institution, effective December 16, 2024.
Deposit-taking microfinance institutions provide financial services to individuals with low incomes or small businesses, allowing them to save and access credit facilities.
In a statement, the RBZ confirmed that Mukuru Financial Services Zimbabwe Limited was licensed in October 2024 under the Microfinance Act [Chapter 24:31], which governs the microfinance sector in Zimbabwe.
This development is expected to enhance financial inclusion by improving access to financial services for underserved individuals and small businesses across the country.
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