By HELEN ZULU –
ZOONA Zambia, an electronic money transfer firm, has this year processed at least eight million transactions amounting to K2.5 billion.
Zoona communications and public relations manager Karim Amade said the company processed about eight million transactions in 2015 through its more than 1,200 outlets.
Mr Amade said Zoona serviced one million customers who sent and received money every 60 days.
He said in an interview in Lusaka that about K100 million was processed on a monthly basis.
“Zoona achieved a number of milestones this year, including breaking the first one million unique users every 60 days.
“Customers have been able to send and receive not less than K100 million on a monthly basis through our 1,200 outlets countrywide,” Mr Amade said.
He said Zoona had reduced its prices by 60 per cent, resulting in some 900 agents recording commission increases of at least 40 per cent for the impacted price brackets.
Mr Amade said a new record for money transfers of K1,000 was set after the price reduction which increased by 20 per cent to about 15,000 transactions per month.
“We decided to cut down our prices by up to 60 per cent to enable our customers transact affordably considering the current economic hardships the country is faced with,” he said.
As a result of the price cut, volumes in the relevant price brackets also rose by 20 per cent.
“In short, the consumer, Zoona’s agents and the company benefitted, which is an example of sustainable business everywhere,” he said.
Mr Amade expected 2016 to be exciting as the company was expanding into new markets in Mozambique and Ghana.
Zoona operates through a network of agents who are entrepreneurs in their own right and has a further 400 in Malawi.