INCUBATE AFRICACrunching the African Tech sapce
March 29, 2024
Startups VC

Zoona Zambia secures a funding of usd 1million

  • March 3, 2017
  • 1 min read
Zoona Zambia secures a funding of usd 1million

Zoona, a Zambian-based payments service provider seems to be having a big feast after securing funds from IFC ( International Funding Corporation ) a part member of the World Bank Group and the Mastercard Foundation.

Zoona was also earlier listed in the KMPG fintech list of the 2016 startups.

The new mobile wallet solution will be co-developed with the communities it’ll serve – this is the approach Zoona normally takes. IFC will help out by way of advisory services for three years.

“Mobile money solutions have been rolled out across the continent in recent years with remarkable impact on financial inclusion,” said Riadh Naouar, head of IFC Financial Institutions Group Advisory Services in sub-Saharan Africa.

He added, “Now is the time to focus on the products offered through these mobile platforms to ensure they meet the needs of low-income people and small-scale entrepreneurs and truly help improve peoples’ lives.”

The investment is part of the Partnership for Financial Inclusion, a $37.4 million joint initiative of IFC and The MasterCard Foundation to expand microfinance and advance digital financial services in sub-Saharan Africa.

About Author

Incuabte Africa

Incubate Africa, founded on June 5, 2016, is a Tech company based and Founded in Africa with the main focus of showcasing African-developed technology to the rest of the world. We strongly believe in what Africa has to offer the world. #Revolutionizing the startup culture

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Copy link
Powered by Social Snap