THE National Association of Savings and Credit Unions (NASCU), the apex organisation for all financial cooperatives in Zambia, today announced the successful implementation and testing of UnionPay International Debit Card.
In 2021, UnionPay International entered into an agreement with NASCU as part of the its Financial Inclusion Program to introduce safe, secure, efficient and transparent electronic systems to help Cooperatives and Credit Union members access their savings, transacting and loan accounts.
The deployed products and services around the UnionPay International solutions shall be availed to all cooperative society members, including savings and village banking groups in alignment with Zambia’s National Financial Inclusion Strategy 2017 to 2022, – which aims to increase financial inclusion from 59 percent to 80 percent – by enabling more people and businesses to access digital payments and formal financial services.
“It is truly exciting to be part of an initiative using the best technology from strategic partners. After various discussions and evaluations, NASCU partnered with UnionPay International as their platform enhances NASCU’s strategy to include all cooperative societies in the drive to digitise cooperative activities and their respective access to cooperative focused financial services and business enabling tools and services.” says Febian Mubuyaeta, Chief Executive Officer of NASCU. “All NASCU’s line of business applications are guided by best practice recommendations from the Registrar of Cooperatives at the Ministry of Small and Medium Enterprise Development. This cost-effective payment platform shall change the way we as co-operators have engaged with each other, developing our communities and enabling our fellow members to empower themselves, with secured savings, affordable loans and a trusted environment to transact.”
NASCU having successfully completed testing of the card products shall commence card issuance to members, focused on developing a modernised and inclusive financial cooperative environment in Zambia. With UnionPay International card products and the additional services, cooperatives will be able to securely operate and deliver products that are competitive with any savings and lending solution on the market.
Fully Zambian-owned Betting company “Betta1” officially launched
The first fully Zambian-owned betting company Betta1, was yesterday morning launched in Lusaka at Sarovar Hotel. Betta1’s country manager, Mr. Ray Phiri said in his briefing that Betta1 has been brought to the Zambian people for their enjoyment, money-making, and leisure. He further on went to distinguish how unique the Betta1 platform is from other betting platforms already operating in the country. He said that Betta1 has over 30 sports events, including Formula 1 racing, Ice Hockey, Tennis, Football, and many more.
Mr. Phiri went on to talk about the various games on the platform, from the live clubhouse section with mathematical games that require one to think, to virtual games, slot games, and rare games like Aviator and Rocketman that has recorded a lot of wins from the Zambian people already betting on the platform.
Mr. Phiri emphasized the highest winning bonus of 600% that Betta1 has brought to the Zambian people, explaining why Betta1 decided on that approach; by stating that Betta1’s goal is to bring the most effective, most entertaining, and most profitable solutions to the Zambian people.
Mr. Phiri said that the entire Betta1 interface was created with the Zambian people in mind, and that’s what makes Betta1 a proudly owned Zambian betting company. He concluded by thanking the Zambian government, The Ministry of Finance, and The President of the Republic of Zambia Mr. Hichilema Hakainde for the good policies they have put in place that allow for economic stability and attract investors both locally and internationally, which adds to the country’s economic development.
The other keynote speaker was Betta1’s CEO Mr. Angad Chhabra, who started off by congratulating the Betta1 team and the Zambian people at large for producing what the people are calling the cream de la cream, as well as being the only betting company with its origin from Zambia. Mr. Chhabra praised Zambia’s peaceful environment, and the economic system in place, which makes Zambia a grand destination for investment in Africa.
He further on went to say that the Zambian people can only expect excellence and good service delivery going forward, and the company’s focus is providing jobs for the Zambian youth who are disfranchised and excluded from leadership opportunities. Mr. Chhabra concluded by appreciating all partners and clients who have come on board to partner with Betta1 and welcomes every Zambian over the age of 18 to start betting on the Betta1 platform for an enjoyable, profitable, and lasting betting experience.
Also speaking was Zambian renowned musician Moses Wesley Chibambo, popularly known as Dandy Krazy, who expressed his happiness and excitement to associate with a Zambian-owned betting company that has its core values centered on providing job opportunities for the Zambian youth.
Dandy Krazy went on to say that Betta1 is something extraordinary and exclusively created for the Zambian people to benefit, as people can bet from as low as K1, and stand a chance to win up to a 600% win bonus, which is the highest in the country proudly brought to the Zambian people by a Zambian owned betting company. He further went on to encourage Zambians to register at www.betta1.com and take advantage of the current football season that has just started. He concluded by saying Zambians should stand and bet on Zambian grounds by a fully Zambian-owned betting company.
Bus operators who will not reduce bus fares as guided by RTSA risk having their Road Service Licenses revoked, Govt warns
GOVERNMENT has warned that Bus operators that will not reduce bus fares as announced by the Road Traffic Safety Agency ( RTSA) after a reduction in the fuel pump price risk having their Road Service Licenses (RSL) revoked.
The Ministry of Transport and Logistics has since advised members of the public to report bus operators that violate the directive through the RTSA hotline on 0955 983983 or 0965 429499 on WhatsApp for action.
Ministry of Transport and Logistics Permanent Secretary Fredrick Mwalusaka said Bus operators are advised to effect the revised bus fares.
“On August 2nd last week RTSA and the bus operators held a consultative meeting to consider the proposed reduction in bus fares following the downward adjustment in fuel pump price announced by the Energy Regulation Board (ERB) for the month of August 2022.
The meeting was also attended by the Commuters Right Association of Zambia (CRAZ), Zambia Consumer Association (ZACA), Public Passenger Transport Drivers Association of Zambia (PPTDAZ) and the Bus and Taxi Owners Association of Zambia (BTOAZ),” he said.
Mr Mwalusaka said BTOAZ brought a proposed reduction in bus fares of K1.00 on local routes and five per cent on intercity routes.
He said that they informed the Meeting that the proposal was based on their model of calculating bus and taxi fares.
“However, this proposal did not reflect the average reduction in fuel price as BTOAZ did not follow the agreed bus fare model that is normally used by RTSA.It should be noted that RTSA as a regulatory institution in the road transport sector has the obligation to regulate the passenger public transporters to protect the interest of the public while safeguarding the operations of the public transport sector in the country. Section 108 of the Road Traffic Act. Number 11 of 2002 provides that, a bus operator should seek approval from RTSA for any variation in bus fares,”
“To this effect, all bus operators are guided to effect the revised bus fares as announced by RTSA, following the decrease in fuel pump price announced by ERB. The public should be aware that the transport sector is liberalized and therefore each operator should have their own rate. However, in order to protect the public from exploitation, Government and RTSA put together a mechanism that would be more consultative and would look at various aspects of pricing in the transportation of passengers. This mechanism should not be misconstrued to be a total abolishment of all forms of regulation and control. It should enable the harnessing of a competitive and effective business environment that protects the interest of the public. In this regard, Government has a duty to put in place control measures in the passenger public transport system,” he said.
Mr Mwalusaka added therefore, that bus operators who will not implement the new bus fare reduction, risk having RSL being revoked or suspended for violating the terms and conditions under which the licence was granted.
“From the foregoing, RTSA is directed to enforce the provisions of the Road Traffic Act to bring sanity in the operations of the transport system in the Country. Members of the general public are urged to report bus operators violating the provisions of the law,” he said.
(Mwebantu, Tuesday, August 8th, 2022)
Unifi Zambia hosts 800 Kasama residents during its first family fun day
Unifi, one of Zambia’s top personal loans companies, hosted their first-ever Family Fun Day which was held at the Kasama Boys School on the 30th July in Kasama. The event encouraged community involvement in line with Unifi’s mantra of “making life easy”. The Family Fun Day allowed a break from the grind of daily life and substituted for spending quality time with loved ones. The Unifi Family Fun Day additionally offered social and economic opportunities for local vendors.
Led by their Chief Operating Officer, Lilian Bwalya and the Kasama District Commissioner Elizabeth Goma, the team steered a fun and entertaining day that also included cleaning and painting the Kasama Boys school toilets, as well as clearing the school grounds. This effort was made for the benefit of the over 1,451 pupils currently registered at the school.
Speaking on behalf of the Kasama District Commissioner, Ms. Elizabeth Goma, commended Unifi for the great time and effort that was put into ensuring the event was a success and for enabling access to finance for many residents in the area.
As a company that operates close to the communities where it has a presence, Unifi believes that the Family Fun Day is one way to give back and thank clients for their support.
“In order for businesses to thrive, the community must thrive, too. Now, more than ever, our local communities need assistance, in many circumstances,” said Ms. Bwalya. “It is a pleasure for us to give back to the communities we serve.”
Unifi has been providing financial services since 2006 with 34 branches in Zambia. Operated on the value of simplicity, Unifi Zambia has purposed to redefining personal credit with innovations that will make life easy for 1 million clients by 2025.
Formally employed persons in the government and private sectors can apply for our loans. We believe credit should help people move forward and be there for them when they need it most. That’s why our loans are quick and simple to apply for, pay out fast and offer flexible repayment terms. These are some of the ways we’re redefining credit and making life easy! Visit https://unifi.credit/zm/