By Mukuru, a pan-African financial services provider, said on Wednesday it had launched a Visa-branded “Companion Card” in Botswana, linked to its Mukuru Wallet, allowing customers to make cashless payments directly from their digital wallet balance.
The card, which does not require a traditional bank account, is aimed at expanding access to cashless payments in a country where mobile phone use is widespread but roughly 38% of adults remain unbanked.
The Mukuru Wallet already lets customers manage money from their phones. The new card extends that functionality to in-person and online purchases, the company said, enabling payments for groceries, transport, utilities, school fees and online shopping wherever Visa is accepted.
Because the card is linked directly to the wallet, customers do not need to transfer funds between accounts before making a purchase, Mukuru said. Both the wallet and card work across all mobile networks in Botswana.
Botswana has one of the highest mobile penetration rates in Africa, with about 4.21 million mobile connections in a population of 2.54 million, equivalent to 166%, according to data cited by Mukuru. Despite that level of connectivity, an estimated 38% of adults in the country lack access to formal banking services.
Thembani Moyo, Mukuru’s country manager for Botswana, said the new card built on existing customer trust in the wallet.
“Our customers already trust the Mukuru Wallet to manage their money,” Moyo said, adding that the card offers “a new, practical way to use it.”
Andy Jury, Mukuru’s group chief executive, said the launch was part of a broader push to widen the range of services offered through the wallet.
“We’re building a financial services brand around real, everyday needs,” Jury said, adding that the aim was to help customers “manage, move, and spend their money securely, and on their own terms.”
Mukuru said transactions on the Companion Card are protected by a customer-set PIN, while online purchases use Visa’s 3D Secure authentication system. Customers can block or stop the card remotely via their phone if it is lost or stolen, the company said.
Mukuru is registered as an Electronic Payment Service Provider in Botswana, meaning its wallet and card services fall under local financial regulation.
The card launch was carried out in partnership with Visa and Access Bank. Amon Magunje, Visa’s country manager for Botswana, said the collaboration combined Visa’s global payments network with Mukuru’s presence on the ground in Botswana.
“This collaboration combines Visa’s global capabilities with Mukuru’s deep local presence to deliver greater value and choice to consumers across Botswana,” Magunje said.
Shathiso Choto, head of retail banking at Access Bank, said the bank’s involvement was part of a wider effort to broaden access to formal financial services in the country.
“Supporting the Mukuru Companion Card allows us to empower more customers to actively and confidently engage in Botswana’s digital economy,” Choto said.
According to Mukuru, customers can open a Mukuru Wallet via WhatsApp, or in person at Mukuru booths, branches or accredited agents across Botswana. Once a wallet is funded with a minimum of 50 pula, the customer is issued a physical Mukuru Card that draws on the wallet balance for everyday purchases.
The Companion Card is the latest addition to Mukuru’s push to position its wallet as a broader financial services tool beyond its original remittance business.
Mukuru describes itself as a next-generation financial services platform serving more than 17 million customers and processing over 100 million transactions annually across Africa and other international corridors.
Founded more than 21 years ago, the company has expanded from cross-border money transfers into a wider set of financial products that let customers send, store and spend money through its platform.
The company operates across Southern, East and West Africa, combining physical service points such as branches and agents with digital tools including the wallet and mobile app, to reach customers with varying levels of internet access, documentation and digital experience.
Mukuru said it completes 80% of customer verifications in under five minutes. The company has been certified as a Top Employer in South Africa for 2024, 2025 and 2026, and holds similar certification in Zimbabwe for 2025 and 2026, according to the company.
The Botswana launch comes as digital payment providers across Africa compete to convert cash-based transactions into mobile and card-based payments, targeting populations with high mobile phone use but limited access to traditional banking infrastructure.
