Zimbabwe’s tobacco industry is experiencing a remarkable resurgence, with small-scale farmers forming the backbone of the $1.3 billion sector. The country is fast reclaiming its position as Africa’s largest tobacco producer, a status it last held during the 2010s. This growth comes despite persistent challenges faced by smallholder farmers, particularly in accessing financial services.
One company helping to address these challenges is Mukuru, a leading tech-driven financial services provider. Through its innovative digital payment solutions, Mukuru is transforming the tobacco value chain in Zimbabwe by making financial transactions faster, safer, and more accessible for farmers.
Kevin Nyakotyo, Mukuru’s Enterprise Sales Manager, explained that the company has been working closely with tobacco farmers and leaf buyers to streamline payment processes. “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,” Nyakotyo said.
Using its MukuruPay platform and the Mukuru Wallet, the company has created a digital ecosystem that simplifies bulk payments from leaf buyers to farmers. This technology-driven approach allows farmers to receive their earnings instantly, eliminating the delays associated with traditional banking systems.
In 2024, Zimbabwe recorded a record-breaking US$1.3 billion in raw tobacco export earnings, up from US$1.15 billion the previous year. This growth has been supported by favourable weather conditions, an increase in registered growers, and supportive government policies, including decentralised contract sales and expanded auction infrastructure.
Despite these positive developments, financial exclusion remains a significant hurdle for many farmers. Historically, smallholder farmers have faced difficulties accessing credit, with many forced to wait days or even weeks for payment after delivering their crop. Mukuru’s intervention is helping to change that.
“Farmers no longer have to travel long distances or wait for days to get paid,” Nyakotyo noted. “With a Mukuru Wallet, they can access their funds instantly and cash out at thousands of Mukuru booths and agents across the country, or use the money directly for everyday needs.”
Mukuru’s expansion into the agriculture sector is part of its broader mission to drive financial inclusion across underserved communities. With more than 3 million customers in Zimbabwe and 17 million globally, the company continues to leverage technology to solve real-world economic challenges.
“Our goal is to build financial resilience,” Nyakotyo said. “By digitising payments and reducing friction in cash flow, we’re not just helping individual farmers—we’re strengthening value chains and supporting rural economic development.”
Mukuru’s impact has not gone unnoticed. In 2024, the company won the IAMTN Payments Network Customer Experience Excellence Award and was named among the 2025 FXC Intelligence Top 100 Cross-Border Payment Companies. These accolades underscore Mukuru’s commitment to creating lasting change in Zimbabwe’s tobacco sector and beyond.
