Sarona Asset Management has invested $300,000 in Zambian mobile transaction processing company, Mobile Transactions Zambia (MTZ).
The funding is expected to facilitate regional expansion. Mobile Transactions offers a mobile money transfer service, covering electronic vouchers and electronic payment systems.
“Building accessible and affordable information and communication pathways is critical to a society’s economic development,” said Gerhard Pries, Sarona’s chief executive officer.
Mobile Transactions Zambia manages a network of outsourced cash access point, with has 100 agents across Zambia. The company primarily targets the agriculture sector, to enable electronic processing of small-scale orders and payments.