Mukuru Launches Visa Card in Botswana to Bring Wallet Payments to More Customers

Mukuru has introduced a new Visa-powered Companion Card in Botswana, allowing customers to spend money directly from their Mukuru Wallet at Visa-accepting merchants without needing a traditional bank account.

Mukuru has expanded its financial services offering in Botswana with the launch of a Visa-branded card linked directly to its mobile wallet.

The company announced the Mukuru Companion Card in Gaborone on August 19, 2026, positioning the product as a way for customers without bank accounts to make everyday payments using funds already held in their Mukuru Wallet.

Unlike a conventional prepaid or debit card that may require customers to move money between accounts, the Companion Card spends directly from the user’s Mukuru Wallet. It also works across all mobile networks in Botswana.

New Mukuru card targets Botswana’s unbanked population

The launch comes as Botswana continues to record high mobile connectivity while a significant portion of its adult population remains outside the traditional banking system.

Botswana has approximately 4.21 million mobile connections for a population of about 2.54 million, giving the country a mobile penetration rate of roughly 166%.

Despite that level of connectivity, Mukuru estimates that around 38% of adults in Botswana do not have a bank account.

The Companion Card is designed to bridge that gap by allowing people to use wallet-based funds at physical and online merchants without first opening a conventional bank account.

Mukuru operates in Botswana as an Electronic Payment Service Provider, a regulatory category that permits non-bank financial service providers to hold and transfer customer funds.

Why Mukuru is putting a card behind its mobile wallet

Mobile wallets can provide a convenient way to store and move money, but their usefulness can depend heavily on where and how merchants accept them.

By connecting the Mukuru Wallet to Visa’s payment network, the company can give customers access to merchants that already accept Visa cards instead of requiring businesses to adopt a separate payment system.

That makes the physical card a familiar payment option for customers who may not have access to traditional banking services.

The arrangement also means payments are processed through Visa’s existing network rather than relying solely on domestic mobile-money interoperability.

“Our customers already trust the Mukuru Wallet to manage their money. The Companion Card gives them a new, practical way to use it,” Mukuru Botswana Country Manager Thembani Moyo said.

Card comes with security features for everyday spending

Mukuru says the Companion Card includes several security measures designed to protect customers when making payments.

Transactions are protected with a customer PIN, while online purchases use Visa 3D Secure authentication.

Customers can also block a lost card directly from their phone, potentially allowing them to respond quickly if their card goes missing.

Access Bank is supporting the initiative, with its Head of Retail Banking, Shathiso Choto, describing the launch as another avenue for expanding access to regulated financial services.

Botswana’s growing digital payments market

Although Botswana’s digital financial services market receives less international attention than larger African markets such as Nigeria, Kenya and South Africa, the country has continued to build its digital payments and connectivity infrastructure.

Mobile money operators and technology companies have expanded services in the country, while partnerships have also connected Botswana with neighbouring markets.

The introduction of the Companion Card adds another layer to that growing ecosystem by combining mobile-wallet services with conventional card payments.

Mukuru has yet to reveal key card details

While the launch gives Mukuru Wallet users a new way to spend their money, several important details about the product remain undisclosed.

Mukuru has not stated how many wallet customers it currently has in Botswana, how much customers will pay to hold or use the card, or the number of merchants it expects customers to access through the Visa network.

Those figures could ultimately determine how significant the new card becomes in Botswana’s financial services market.

For now, Mukuru is betting that combining the convenience of a mobile wallet with the broad acceptance of a Visa card can make digital payments more accessible to people who remain outside the traditional banking system.