Minit Money Facilitates Effortless Funds Transfer Between South Africa and Zambia

Minit Money Facilitates Effortless Funds Transfer Between South Africa and Zambia

By Staff Writer, 08 November 2023

Minit Money, a prominent player in the realm of blockchain-based remittances, has unveiled a groundbreaking corridor, connecting South Africa and Zambia.

This newly established channel allows Zambians residing in South Africa to efficiently send funds back to their homeland.

The announcement was made by Angus Brown, the co-founder and CEO of Minit Money, during the Africa Fintech Summit held in Lusaka, Zambia.

Brown expressed his enthusiasm, stating, "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."


The historical ties between South Africa and Zambia underscore the significance of this development. During the apartheid era in South Africa, Zambia played a pivotal role in supporting the South African liberation movement. As a neighboring country with a steadfast commitment to justice and equality, Zambia offered refuge and aid to anti-apartheid activists, including prominent figures such as Nelson Mandela and Oliver Tambo.

Furthermore, the two nations share strong economic connections, primarily driven by the thriving copper mining industry. Zambia stands as one of the world's leading copper producers, while South Africa plays a crucial role in the mining and metallurgy sectors. This collaborative effort has witnessed South African mining companies investing in Zambia's copper industry, promoting technological advancements, and generating job opportunities.

The economic partnership extends beyond mining, encompassing infrastructure development. South African enterprises are actively engaged in constructing and upgrading transportation networks and power supply in Zambia. This not only aids in the efficient extraction and export of copper resources but also contributes to both countries' economic growth and the global copper market's sustainability.

Minit Money is set to revolutionize the remittance landscape with its user-friendly digital app, harnessing blockchain technology to facilitate seamless, swift, and cost-effective money transfers. The launch of the South Africa to Zambia corridor is poised to deliver substantial cost savings, expedited transfer times, and a hassle-free experience for Zambians residing in South Africa.

The introduction of this corridor is expected to further strengthen the bond between South Africa and Zambia, fostering economic cooperation and improving the lives of the Zambian diaspora in South Africa. This initiative not only empowers individuals to send money more efficiently but also bolsters the broader economic partnership between these two nations.

Source: Bizcommunity

Related Report

Future of Fintech in Africa

The Future of Fintech in Africa

18% of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, living without a bank account or a digital wallet to their Name. The opportunity is massive, which is why fintech is the most dominant and most funded tech sector in Africa, today.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems