MTN Zambia just announced the reduction on their mobile money platform to reduce the risk of spreading the deadly coronavirus. This deadly disease which has the world at a standstill has disrupted the lives of everyone affected. World economies and travel relations have been put on halt as people are practising self isolation and social distancing to help reduce the spread of the virus. According to The World Health Organization (WHO), the exchange of banknotes is another way that COVID-19 can be transmitted.
This announcement by WHO is what prompted Bart Hofker,the Chief Executive Officer (CEO) of MTN Zambia to release a statement saying
“as a result of the foregoing, MTN Zambia recognises the urgent need to go cashless to slow down the spread of the virus, hence, the organisation has zero-rated the mobile money transfer up to K150 and has doubled the mobile money transaction limits in response to Covid-19.”
Due to the outbreak of this coronavirus in Zambia, the company is said to be working closely with the bank of Zambia to do everything in their power to help the lives of the citizens of Zambia. Komba Malukutila, Chief FinTech Officer of MTN Zambia also added that,
“It is no secret that Coronavirus is spreading like wildfire through the world and we have realised that there is an urgent need to go cashless and use MTN Mobile Money. We are calling it the ‘No cash, No germs, Go MoMo’ campaign.”
He stated that they will give access to customers who aren’t on the MoMo platform the opportunity to join the platform and to attract people, they will be giving out K2 to customers. MoMo is said to be the biggest mobile money platform in Zambia.
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Furthermore, MTN Zambia has expanded the e-wallet holding and transactions limit. Below is a breakdown of the wallet holding and mobile money transaction limits.
|Individuals||Tier 1-from K10,000 limit to K20,000 (with maximum wallet holding amount of K100,000)
Tier 2- from K20,000 daily limit to K100,000 (with maxi wallet holding amount of K500,000)
|Small scale & SMEs||From K250,000 to K1,000,000|
|Agents||From K2,000,000 to no limit|
|Corporates||From K2,000,000 to no limit|