Zoona slashes remittance prices up to 60% in Zambia

Zoona, an African mobile payments business with operations in Zambia Malawi and Mozambique, has announced plans to cut down its prices by between 13% and 60 % in some pricing bands. The announcement was made last week at a social event hosted for Zoona’s Board Members and Investors, in Lusaka. Ms Lelemba Phiri the Chief Marketing Officer, said the new prices would come into effect on 1st June 2017.

“We are committed to bringing quality financial services to all Zambians. Services that are reliable, consistent and priced fairly. With this last point in mind, and having listened to the guidance of our partners at the Bank of Zambia and Ministry of Finance – on the 1 st June we will be unveiling our new and improved price reduction structure of up to 60%,” said Ms Phiri.

Zambia’s Finance Minister, Dr. Felix Mutati who was the guest of honour, said Government is cheered by the news of the price reduction and pledged to work with Zoona in various forms including the agricultural sector.

“I commend Zoona’s bottom- up approach in dealing with its customers, and that many development entities which operate at high levels could learn from this business model,” stated the Finance Minister.

He proposed that Zoona’s success story, such as that of Misozi Mkandawire, a young woman who has successfully grown her business from one Zoona outlet to over 20, and now employs over 40 people, was an inspirational one, which ought to be shared with the business sector and others in international development.

Zoona, which started in Zambia in 2009 offers tangible contributions to financial inclusion and the well-being of communities across Zambia and the other countries, In addition to financial transactions, the company supports women empowerment by identifying and training young women who become Zoona Agents and business skills training for entrepreneurs. In the last seven years, Zoona has enabled more than 2,000 entrepreneurs (most of them women) to start their own businesses and helped create of over 3,000 jobs.’

Mr Caesar Siwale, Board Chairperson lauded the support from Government and said that Zoona was encouraged by the Finance Minister’s call to partner with Zoona in enabling financial inclusion in sectors such as agriculture, mainly in rural areas.