Connect with us

Business

Bitcoin Solves Zambia’s Remittance Riddle

Published

on

One of the greatest financial challenges Zambians face is sending money to one another, both within the borders and beyond. Sending money is both costly and slow, and within the increasingly globalized economy more and more zambians are finding it difficult to afford to send and receive money from their family abroad. Fortunately, there is a solution to be found in one of the world’s newest technologies. Just as the internet revolutionized the world before, cryptocurrency and blockchain technology is here to do the same. These massive changes are particularly useful in the case of remittance payments.

The digital currency, Bitcoin, provides low transaction fees and is not operated by a central authority. Bitcoin’s transparent and open-access nature owes its existence to a  public ledger technology known as “Blockchain”. Sending cryptocurrency is low cost, fast, and avoids the middle-man aspect of existing fiat remittance payments. This makes it the perfect solution for nations like Zambia who are struggling to send money to one another. As of this year, the rapidly growing cryptocurrency exchange Yellow Card has expanded to Zambia with the stated goal of bringing “financial freedom for all” to Zambians.

As Yellow Card opens its doors, Zambians can expect to see the benefits and technological growth that the company has created in other countries that it operates in. Yellow Card is particularly keen on becoming an educational source about Bitcoin and blockchain technology, in addition to providing a safe and convenient means of buying, selling, and sending Bitcoin to others and anyone can sign up for free. Yellow Card predicts that Bitcoin adoption and its benefits will be the source of much financial relief for many Zambians. Beyond personal payments, Yellow Card and its Bitcoin offering can be a fantastic solution to facilitate international trade amongst Zambian’s African neighbors.

With Bitcoin’s increasing popularity, it’s clear that many have caught on to its speedy and low-cost solution to financial solutions.  Yellow Card’s founder Chris Maurice added to this saying “Zambia is a beautiful nation with a population that is hungry for technological advancement. Many Zambians are overcharged and underserved when trying to do a very basic task: sending and receiving money. Bitcoin solves that conundrum.”

Download the Yellow Card app for Android

Download the Yellow Card app for iOS

Business

ZNS warehouse robbed, 212 GMO mealie meal bags en-route to DRC vanish.

Published

on

OVER 200 bags of Genetically Modified Organism (GMO) mealie meal meant for export into the Democratic Republic of Congo (DRC) has been stolen by unknown criminals.

The mealie meal is believed to have been stolen from a Zambia National Service (ZNS) warehouse at Kasumbalesa, where the contraband was stored, awaiting exportation.

ZNS chief marketing and public relations Colonel Mable Nyone said the service as well as police have since launched investigations into the matter.

“The Zambia National Service (ZNS) regrets to report that thieves last night broke into one of our warehouses at Kasumbalesa Border which house imported Eagles mealie meal meant for export to the Democratic Republic of Congo (DRC) and made away with about 212 by 25 kilograms of mealie meal estimated at more than K68, 000.This incident represents a slap in the face of the Service’s noble efforts of supplementing Government’s efforts of generating additional resources to complement those coming from the treasury,” she said

Colonel Nyone warned that those involved in the illegal act should, therefore, brace themselves to face the full force of the law.

She said the service, working closely with the Zambia Police, will fiercely pursue the individuals behind this irresponsible criminal act to ensure they are brought to justice.

“The perpetrators risk facing, not only charges related to breaking in and stealing bags of mealie meal but also a possible charge on illegally offloading genetically modified organism (GMO) commodities onto the local market, should they attempt to offload the commodity on the Zambian soil,” she said.

Colonel Nyone urged Zambian citizens to remain vigilant and report any suspicious activities related to the sale or distribution of the stolen ZNS mealie meal, particularly those bearing black labels.

“As a direct response to the unfortunate incident, ZNS will intensify security measures at all of our depots to prevent any further occurrences. We are committed to safeguarding our facilities while at the same time protecting the interests of the Zambian people who have chosen not to consume any GMO product,” she said.

(Mwebantu, Tuesday, 20th February, 2024)

Continue Reading

Business

ZRA uncovers vehicle identity scam

Published

on

THE Zambia Revenue Authority (ZRA) has unearthed a motor vehicle identity scam in which perpetrators use registration numbers of other motor vehicles to smuggle vehicles into the country.

In a recent development related to the ongoing investigation, a vehicle previously belonging to the Zambia Revenue Authority, which was involved in an accident and subsequently written off by the insurance company, has had its registration details illicitly used for another vehicle.

ZRA Corporate Communications Manager Oliver Nzala said the new vehicle was not duly cleared, and no duties were paid for its registration, constituting a serious violation of national laws and regulations under the Customs and Excise Act.

He said the estimated revenue loss from this smuggling act is K 97,700.

“The vehicle in question has since been detained by the Authority, and extensive investigations are underway to uncover the individuals responsible for this fraudulent activity. This incident underscores the sophisticated nature of the fraud being perpetrated and the lengths to which individuals will go to circumvent legal and regulatory frameworks,” he said.

Mr Nzala said the Authority in partnership with the Road Transport and Safety Agency (RTSA), the Zambia Police Service, and other key stakeholders, is intensifying efforts to enhance the security features of vehicle registration documents and to tighten controls across the board.

“Our goal is to prevent future incidents of fraud and to protect public revenues and safety. We call upon anyone with information related to vehicle identity theft, including the misuse of registration details of vehicles written off or involved in accidents, to provide such information to ZRA. Your cooperation is vital in our ongoing efforts to combat these illegal activities,” he said.

(Mwebantu, Tuesday, 20th February, 2024)

Continue Reading

Business

MultiChoice Talent Factory wins CSR and Responsible Business Leadership award

Published

on

THE MultiChoice Talent Factory (MTF), a Corporate Social Investment (CSI) initiative of MultiChoice, has been honored with the prestigious Corporate Social Responsibility (CSR) and Responsible Business Leadership Award at the 5th CSR and Responsible Business Awards Ceremony.

The event took place in Livingstone.

The award is bestowed upon organisations that demonstrate outstanding commitment to Corporate Social Responsibility and exhibit exemplary leadership in responsible business practices.

The MultiChoice Talent Factory academy which was established in 2018, has been a beacon of opportunity for aspiring creatives across Africa.

“The MultiChoice Talent Factory academy has been active since 2018 and is currently entering its 5th cohort. It is a comprehensive one-year, MultiChoice fully sponsored training program accredited by the University of Zambia, designed to develop the professional skills of young creatives in the African film and television industry,” reads a statement.

(Mwebantu, Monday, 19th February, 2024)

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Mwebantu on Facebook

© Copyright © 2023 Mwebantu. All Rights Reserved. Zambia's leading Social news platform.