Zimbabwe’s fintechs fly private planes of cash to meet Dollar demand

In a daring monthly ritual, private jets touch down at Robert Gabriel Mugabe International Airport in Harare, Zimbabwe, ferrying millions in US dollars for Mukuru, the nation's leading mobile money app. Amid Zimbabwe's economic turmoil, where the local currency is shunned, Mukuru's operation underscores the extremes businesses will go to meet customer demand for dollar liquidity. This unconventional yet legal practice illuminates the complex dynamics of Zimbabwe's cash-dependent economy amidst global fintech growth.
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By Loni Prinsloo, Antony Sguazzin, Ray Ndlovu and Godfrey Marawanyika

At least once a month — and sometimes as often as three times a week — a private plane lands in a secure part of Robert Gabriel Mugabe International Airport on the outskirts of the Zimbabwean capital, Harare, carrying millions of US dollars. The pallets of cash are unloaded, broken down into packages, and then distributed to transfer points across the country. 

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