Zambian startup, Zoona, is among to help bring the country to a cashless system by offering a mobile money solution targeted for both merchants and consumers, reported VentureBurn. Zoona hopes to follow in the footsteps of Safricom’s M-Pesa service, and has already raised $5 million in funding.
According to the article, most of Africa’s payment transactions are done with cash, and over 80 percent of adult income-earning residents in Zambia are unbanked. The startup is offering a variety of products to encourage Zambians to pick up mobile payments.
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