Mukuru, an inflation-busting SMS-based coupon remittance programme for ex-pat Zimbabweans living in the UK, is expanding globally through an alliance with e-payments outfit Moneybookers.
Set up by UK-based Zimbabweans in 2004 with its first transfers in 2007, Mukuru allows ex-pats to remit value to friends or relatives through their mobile phone.
The service delivers text message coupons to recipients which can be redeemed for actual goods across a network of local stores, banks and petrol stations.
This enables them to bypass the Zimbabwe dollar and therefore hyperinflation, which is running at over 13.2 billion per cent a month, according to an index from the Cato Institute in Washington. Read more
No comments:
Post a Comment