Staff Writer 
A NEW mobile application, InnBucks Direct, developed through a joint venture between InnBucks Bank and local blockchain-based fintech Kuva, is poised to redefine diaspora remittances in Zimbabwe.
The application enables instant fund transfers from the diaspora directly into the InnBucks Zimbabwe wallet.
Speaking on the new initiative, Kuva chief executive officer Andreiko Kerdemelidis said the application reflects a commitment to innovation aimed at sustaining value for users over time.
“Innovation in payments should not be a one-off promise; it must be sustainable, measurable, and tailored to the lived realities of customers. With InnBucks Direct, we are delivering a smarter remittance experience, faster transfers, and reliable access through a distribution network that customers can depend on,” Kerdemelidis said.
The joint venture anchors its sustainability on a large cash distribution network supported by trusted retail brands, including Simbisa Brands’ quick-service restaurants, Bakers Inn, Pizza Inn and Chicken Inn.
Funds will also be accessible through Steers, Pick n Pay, Jet Stores, Profarmer Stores and Edgars, collectively providing customers with access to more than 350 cash collection points across the country.
Kuva project consultant Nqobani Moyo emphasised that the initiative was designed to deliver efficient service to customers.
“We did not build InnBucks Direct merely to showcase a product; we built it to solve a problem in a way that customers can immediately appreciate. Instant UK-to-InnBucks wallet transfers, low-cost sending, and a large, accessible cash collection network are all part of ensuring the service remains useful, sustainable, and genuinely convenient for Zimbabweans,” Moyo said.
The organisation said there are plans to expand the project across all markets where Simbisa Brands has a quick-service restaurant presence in Sub-Saharan Africa.
With an estimated five million people living in the diaspora, Zimbabwe continues to benefit significantly from remittances.
According to the Reserve Bank of Zimbabwe, in its 2026 Monetary Policy Statement, the diaspora community contributed US$2,45 billion to the local economy last year.
