Blockchain remittance app Minit Money has opened its first Southern Africa remittance corridor, which aims to make it more affordable for Zambians living in South Africa to send money home.
The digital remittance app leverages blockchain technology to make sending money quicker and more efficient. Through the launch of the South Africa to Zambia corridor, the company said it expects to create significant savings for users, improve sending speeds and provide a more seamless user experience for Zambians living in South Africa.
South Africa and Zambia have a long history of cooperation. During the apartheid era in South Africa, Zambia played a pivotal role in supporting the South African liberation movement. As a neighbouring country, Zambia provided refuge and assistance to anti-apartheid activists, including prominent figures like Nelson Mandela and Oliver Tambo.
The countries also 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 has seen many South African mining companies invest 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 both transportation networks and power supply in Zambia s copper resurces can be extracted and exported more efficiently. In addition, many Zambians have family members who have found work in South Africa’s economic hubs.
Speaking on the announcement, Minit Money Co-founder and CEO 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.”