Minit Money, a blockchain-based remittance app, has unveiled its first Southern Africa remittance corridor, enabling Zambians residing in South Africa to send money home conveniently and affordably.
This development was announced at the Africa Fintech Summit in Lusaka, Zambia.
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Historical Ties and Economic Connections
South Africa and Zambia share a history of collaboration that dates back to the apartheid era in South Africa. Zambia played a significant role in supporting the South African liberation movement during this time, providing refuge and assistance to anti-apartheid activists, including iconic figures like Nelson Mandela and Oliver Tambo. Today, the two nations maintain strong economic ties, 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 mining and metallurgy. South African mining companies have invested in Zambia’s copper industry, fostering technological advancements, job creation, and infrastructure development. This partnership benefits both countries and contributes to the global copper market’s growth and sustainability.
Many Zambians have family members who have found employment in South Africa’s economic centers, highlighting the importance of the newly established remittance corridor.
Minit Money: Making Remittances Easy
Minit Money offers an easy-to-use digital remittance app that leverages blockchain technology to make sending money easy, fast, and cost-effective. This newly launched corridor from South Africa to Zambia is expected to generate significant savings for users, improve transaction speeds, and enhance the overall remittance experience for Zambians living in South Africa.
Empowering the Zambian Diaspora
CEO Angus Brown of Minit Money expressed his delight in serving the Zambian diaspora community in South Africa. He noted that Minit Money has experienced significant growth in several corridors and that the launch of the South Africa to Zambia corridor marks the company’s first expansion into Southern Africa.
This new corridor is poised to create substantial benefits for Zambians living in South Africa by offering cost-effective and efficient remittance services. As Minit Money continues to expand its reach and support more diaspora communities, it contributes to the ease and affordability of cross-border financial transactions.
Minit Money’s commitment to leveraging blockchain technology underscores its dedication to making remittances more accessible and user-friendly for individuals and families around the world.
The establishment of the South Africa to Zambia remittance corridor represents a significant milestone in the fintech sector, reinforcing the importance of technology-driven solutions in the field of remittances and cross-border financial services. As the financial landscape evolves, companies like Minit Money are helping individuals and families stay connected and financially supported across borders.
About Minit Money
Established in 2019, Minit Money operates in eight corridors, including Nigeria, Ghana, Uganda, Senegal, Ivory Coast, Benin, and Mali, with more corridors on the horizon. The platform provides competitive rates and exceptionally quick service. Once a transaction is initiated, funds become available in the recipient’s bank account or mobile money wallet within minutes.
The Minit Money app is designed to simplify remittance processes, empowering users to send money without the need to visit a branch or bank. The user-friendly app allows remittances to be sent from retail stores in South Africa or directly from the sender’s South African bank account. The service is accessible to anyone with a smartphone anywhere in the country. The Minit Money app is available for download on the Google Play Store and the App Store.
The Minit Money team understands the crucial role remittances play in supporting communities. Many people rely on remittances from loved ones to make ends meet, and these transfers help families stay connected even when they are physically apart.
Minit Money is developed by Centbee, a prominent South African blockchain and payment organisation established in 2016. Based in Johannesburg, Centbee is composed of professionals who value honesty, commitment, respect, and professionalism.