PROJECT

Projects

Summary of Investment Information

Project Number

38220

Company Name

ZOONA TRANSACTIONS INTERNATIONAL LTD

Date SPI Disclosed

Apr 27, 2016

Country

Zambia

Region

Africa

Projected Board Date

May 27, 2016

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

Mar 1, 2023

Department

Equity Portfolio Management

Industry

Financial Markets

Previous Events

Approved : Jun 14, 2016
Signed : Jul 21, 2016
Invested : Aug 22, 2016

Sector

Money transfer, remittances

Project Description

Zoona enables domestic money transfers in Zambia and Malawi via a network of agents (over-the-counter). Zoona’s core business is to build profitable agent outlets for which the Company mostly relies on a franchise model, with the end-goal of promoting digital financial services. The Company is raising up to US$15 million in a Series-B for its regional expansion and to deepen the agent network in its home markets.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation