Izwe Zambia and Paymenow Launch Earned-wage-access Platform in Zambia

Africa’s market-leading Earned Wage Access (EWA) platform, Paymenow has partnered with Izwe, a financial services provider to launch the platform in Zambia.

This innovative EWA fintech solution has been rolled out in Zambia to all employers who wish to assist their employees with access to affordable and responsible liquidity management solutions in the market.

Speaking during the launch in Lusaka, Paymenow Chief Commercial Officer Mr William Small-Smith said the platform will enable users early access to their already-earned wages and empower them to migrate from indebtedness to financial freedom.

“Our vision is to ease the burden inflicted by unregulated short-term money lenders through affordable, real-time access to a portion of their earned yet unpaid salary, and to educate and assist in reaching financial goals.”

“It’s a transformative model which has proven its social value in South Africa and Namibia, and we’re keen to expand its impact across the continent,” Mr Small-Smith said.

Izwe Group CEO Willie Van Zyl expressed excitement over the partnership with Paymenow to offer a platform to Zambian customers.

Mr Van Zyl said Izwe was committed to offering a wider range of unique financial solutions for positive change to customers.

“This partnership further accelerates our path towards our goal of becoming a digital-first, customer-centric Financial Service Provider,” he said.

Meanwhile, Izwe Zambia CEO Kulusu Chisola said the partnership with Paymenow has opened a new market for Izwe to extend its services to the private sector.

Paymenow’s platform, accessed through an easy-to-use app, promotes responsible financial behaviour through gamified financial education, based on extensive research on financial wellness.

The service is accessible to all employees when an employer adopts the platform on their behalf.

Additionally, Paymenow has launched a mobile money functionality on the app due to the high demand and penetration of the payment method in many African countries.