Minit Money eases SA-Zambia money transfers

Source: Supplied.

Speaking from the Africa Fintech Summit in Lusaka, Zambia Minit Money co-founder and chief executive officer, Angus Brown said, “We’re delighted to announce the launch of Minit Money’s ability to serve the Zambian diaspora community in South Africa.

“We have experienced significant growth in our existing corridors of Ghana, Nigeria, Uganda, Cameroon, Senegal, Benin, Ivory Coast & Kenya and the Zambia launch marks our first foray into the Southern Africa region.”

South Africa and Zambia have a long history of co-operation. During the apartheid era in South Africa, Zambia played a pivotal role in supporting the South African liberation movement. As a neighbouring country with a commitment to justice and equality, Zambia provided refuge and assistance to anti-apartheid activists, including prominent figures like Nelson Mandela and Oliver Tambo.

South Africa and Zambia share a strong economic connection, primarily driven by the copper mining industry. Zambia is one of the world's leading copper producers, while South Africa is a key player in the mining and metallurgy sectors.

This collaboration saw South African mining companies investing in Zambia's copper industry, fostering technological advancements, and promoting job creation. The economic ties extend to infrastructure development, with South African companies involved in building and upgrading transportation networks and power supply in Zambia, supporting the efficient extraction and export of copper resources.

This economic partnership not only benefits both nations but also contributes to the growth and sustainability of the global copper market. Many Zambians have family members who have found work in South Africa’s economic hubs.

Minit Money provides an easy-to-use consumer digital remittance app that leverages blockchain technology to make sending money easy, fast and low-cost. The launch of the South Africa to Zambia corridor is set to create significant savings for users, improve sending speeds and provide a seamless user experience for Zambians living in South Africa.