Mukuru has launched a Visa-branded Companion Card in Botswana that is directly linked to its mobile wallet. The new physical card allows customers to make secure cashless payments for everyday purchases using their existing wallet balance. Announced from Gaborone, the launch expands Mukuru Wallet functionality and removes the need for a traditional bank account.
A Card Connected to the Wallet
The Companion Card draws directly from the Mukuru Wallet, so customers do not need to transfer funds before making a purchase. It works across all mobile networks in Botswana and can be used at any Visa merchant, for local online shopping, and at ATMs. This means users can pay for groceries or top up airtime with a simple swipe or tap instead of carrying cash.
Addressing a Digital Divide
Botswana has one of Africa's highest mobile penetration rates, with around 4.22 million cellular connections in a population of about 2.54 million. Despite this connectivity, Mukuru estimates that 38 percent of adults remain unbanked and underserved by formal financial institutions. The card is designed to close that gap by turning a widely used phone wallet into a payment tool that merchants already accept.
Security and Partnership Support
Every transaction is protected by a customer PIN, while online purchases benefit from Visa's 3D Secure authentication. If a card is lost or misplaced, customers can instantly block or stop it from their phone through the wallet interface. The product was developed through a partnership involving Mukuru, Access Bank Botswana, and Visa, combining regulated financial services and global payment technology.
Strategic Market Motivation
The launch targets a market where digital infrastructure is robust but formal banking access has not kept pace. Mukuru is registered as an Electronic Payment Service Provider in Botswana, a category that allows a non-bank to hold and transfer customer funds. The company said the card inherits every Visa merchant, which makes adoption more immediate than persuading shops to accept a new payment method.
Broader Financial Inclusion Goals
Thembani Moyo, country manager for Mukuru Botswana, said customers already trust the wallet and the Companion Card gives them a practical new way to use it. Mukuru Group CEO Andy Jury explained that the company is building a financial services brand around real everyday needs for managing, moving, and spending money securely. Both leaders describe the card as a step toward becoming a complete financial services partner across Africa.
Company Reach and Ambition
Founded in 2004, Mukuru now operates in over 60 countries and across more than 500 remittance corridors, serving over 17 million people in Africa, Asia, and Europe. The launch in Botswana forms part of its broader strategy to move beyond remittances into everyday spending and financial management. The company views the wallet and card as a combined alternative to traditional banking, which can carry barriers to entry.
The Mukuru Companion Card represents a practical effort to extend cashless payments to consumers who may not have traditional bank accounts. It combines the reach of Visa acceptance with the existing Mukuru Wallet to simplify everyday transactions across Botswana. As financial inclusion remains a challenge in the country, the launch shows how partnerships can deliver accessible and secure payment tools at scale.