Mukuru brings cashless spending to Botswana with new Visa Companion Card
Gaborone launch gives Wallet customers a new way to pay for everyday goods and services without a traditional bank account
By Tsaone Segaetsho
GABORONE, Botswana — Mukuru has expanded its financial-services offering in Botswana with the launch of a Visa-branded Companion Card linked directly to the Mukuru Wallet, giving customers a new way to spend their money without relying on cash or a traditional bank account.
The launch, announced on August 18, comes as Botswana's consumers increasingly adopt digital financial services while a significant proportion of adults remain outside the formal banking system.
The Companion Card allows customers to use their existing Mukuru Wallet balance for everyday purchases at merchants that accept Visa. Customers do not need to transfer money between accounts before making a payment because the card is connected directly to their Wallet.
For consumers in Gaborone and across Botswana, the service is intended to reduce reliance on cash-out points and make digital payments more practical for routine expenses such as groceries, transport, utilities, school fees and online shopping.
The company says both the Mukuru Wallet and Companion Card operate across all mobile networks.
Targeting Botswana's financial-inclusion gap
Mukuru's move comes against a backdrop of high mobile connectivity in Botswana but continuing gaps in access to formal financial services.
The company cites mobile penetration of about 166%, representing approximately 4.21 million mobile connections in a population of around 2.54 million. At the same time, it estimates that about 38% of adults remain unbanked.
That combination has created an opportunity for financial-technology companies to offer services that sit between traditional banking and mobile-based money management.
The Mukuru Wallet was initially designed to give customers a way to manage money from their phones. The Companion Card extends that functionality into physical retail environments.
“Our customers already trust the Mukuru Wallet to manage their money. The Companion Card gives them a new, practical way to use it; so paying for groceries or topping up airtime is as easy as swiping a card, without ever needing to visit a branch or carry cash,” said Thembani Moyo, Country Manager for Mukuru Botswana.
Security built into everyday spending
Security is another major component of the new offering.
Mukuru says customers will use a PIN to protect card transactions, while online purchases are supported by Visa's 3D Secure authentication.
Customers can also block or stop a card from their phones if it is lost or misplaced.
The company operates as a registered Electronic Payment Service Provider in Botswana, positioning the card as part of a regulated financial-services ecosystem rather than simply another prepaid payment product.
Mukuru sees broader financial-services opportunity
For Mukuru, the Botswana card launch forms part of a broader strategy to evolve beyond its traditional remittance business.
The company says it now serves more than 17 million customers and processes more than 100 million transactions across Africa and key international corridors.
Group CEO Andy Jury said the Companion Card was about expanding what customers can do within the Mukuru ecosystem.
“This is about strengthening what the Mukuru Wallet can do for our customers. We’re building a financial services brand around real, everyday needs, helping customers manage, move, and spend their money securely, and on their own terms,” Jury said.
The strategy reflects a wider shift in African financial technology, where mobile wallets, digital payments, remittances and card services are increasingly being brought together within single platforms.
Visa and Access Bank back Botswana expansion
Visa is providing the card network behind the new offering, while Access Bank is also supporting the initiative.
Amon Magunje, Country Manager for Visa Botswana, said the partnership could help connect more consumers to the digital economy.
“Visa is committed to expanding access to the digital economy through secure and innovative payment solutions,” Magunje said.
He described the launch as an important step towards financial inclusion in Botswana, combining Visa's international payments infrastructure with Mukuru's local presence.
Shathiso Choto, Head of Retail Banking at Access Bank, said the bank was proud to support initiatives aimed at widening access to financial services.
“At Access Bank, we are proud to champion initiatives that expand access to safe and reliable financial services. Supporting the Mukuru Companion Card allows us to empower more customers to actively and confidently engage in Botswana’s digital economy,” Choto said.
How customers can get the Mukuru Card
Customers can sign up for a Mukuru Wallet through WhatsApp on +267 7718 4600, or at a Mukuru booth, branch or accredited agent in Botswana.
Once the Wallet has been funded with a minimum of P50, customers will be issued with a Mukuru Card.
The physical card is designed to complement the digital Wallet, allowing customers to use their Wallet balance for purchases wherever Visa is accepted.
For Botswana's increasingly digital consumer market, the significance of the launch may ultimately lie less in the card itself than in what it represents: an attempt to make digital money usable in more parts of everyday life.
In Gaborone's supermarkets, shops, transport networks and online marketplaces, the ability to move directly from a mobile wallet to a card payment could make cashless spending more accessible to consumers who have historically operated outside conventional banking.
Tech Insights Africa will continue tracking how Mukuru, banks, mobile-money providers and fintech companies reshape Botswana's rapidly evolving digital-payments landscape.
