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Zoona plans early expansion in 2016

By , ITWeb’s Zambian correspondent.
Africa , 28 Dec 2015

Zoona plans early expansion in 2016

Electronic money transfer company Zoona plans to expand its operation to Mozambique and Ghana next year.

The company has revealed expansion plans following a successful business year in Zambia where it processed transactions amounting to K2.8 billion.

Zoona communications and public relations manager Karim Amade said the company processed about 8 million transactions in 2015 through its more than 1, 200 outlets in Zambia.

He told the media that the company serviced on average 1 million customers who send and receive money every two months through the network.

Zoona also operates in the Southern African country of Malawi where it has about 400 agents as part of its network.

In Zambia, Amade said on average K100 million is being processed on a monthly basis through the countrywide outlets.

He said the company experienced significant growth in the number of people sending money after the cost of using the service was reduced by up to 60% recently as part of the 'Zoona nizee' promotion.

"Zoona achieved a number of milestones this year but we are expecting 2016 to be exciting as the company is expanding to new markets in Ghana and Mozambique," Amade said.

Zoona is one of several electronic money transfer companies in Zambia, with the local market dominated by MTN and Airtel Mobile money.

MTN Zambia claims it has 1.5 million mobile money customers and records as many transactions, on average, per month. The company said in October this year that it is aiming to have all 5 million customers on its mobile network join its mobile money service.

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