Zoona offloads shares to employees

Banner 3
Banner 3

IN A quest to empower employees, Zoona, a local mobile money platform, has offloaded 13.7 percent shares to its workers.
Zoona managing director Lelemba Phiri said the company, which has 105 workers in Zambia, Malawi and South Africa, has rolled out an employee share option plan to empower employees.
“We have begun the roll-out of an employee share option plan that will ensure that every Zoona employee has an opportunity to become a shareholder in the company. Such a program is the first of its kind for a Zambian technology company,” she said at a media cocktail on Tuesday evening.


Mrs Phiri said the firm remains committed to empower its employees through various initiatives.
She also said the company has provided about US$1 million in low-cost credit to Zambian entrepreneurs, a move that has resulted in the creation of 2,500 jobs.
“Our business model is built around supporting and empowering Zambian entrepreneurs. Today, there are currently 600 Zoona agents and 1,100 outlets operating in Zambia,” she said.
On mobile transactions, Mrs Phiri said over K100 million was transacted on the platform in September alone, translating into 20,000 transactions daily.
Meanwhile, plans are underway to open branches in Mozambique and Ghana next year as the company aspires to expand its footprint in Africa.