“Chi Airtel Money Float muli iwe when you shout Bally!” – To many, that seemed like a campaign joke about August 12, 2021.
Yet, this has become a sweet reality for Mobile Money Agents working outside Lusaka’s Pinnacle Mall.
The happiness came about as a result of President Hakainde Hichilema pressing Jito Kayumba, his special assistant for investments and finance, to mobilize collateral and interest-free floating cash for a pilot project to fund young people’s small companies.
As part of a business empowerment initiative, Kayumba distributed K100,000 to the 65 Mobile Money Agents who operate near Pinnacle Mall after raising money from a variety of sources, including the President himself.
The agents, led by Monica Lungu, were all yelling “Bally! Bally!” in celebration of their empowerment with smiles as big as a man greeting his in-laws.
According to Monica, 20 agents received K5,000 from the K100,000 and would contribute K1000 to the revolving fund each month until their loan is repaid.
Also, Monica added that until each agent at Pinnacle Mall has received K5,000, four agnets will receive K5,000 each month.
Since Bally has greatly increased her authority, Monica now has to relearn how to say “no float,” as she has enough money for withdrawals and float for deposits because she is now the CEO of her own booth.
In response, a male agent named Gift Moyo said the following:
“The money will boost my profit, this company’s…
You have more opportunities to earn a commission the more capital you have.
The gesture is greatly appreciated because gaining power is not simple. To improve my income, I want to open more branches.
Before the empowerment, Precious Simbole, a 26-year-old newlywed whose working capital was K500 over a year, claimed that her daily commission was K20.
Precious, however, claimed that since the empowerment, her daily commission has increased to a staggering K140, entering her account every day.
The Pinnacle Mall empowerment project, according to Kayumba, was a trial program that would be implemented nationally.
According to information provided by Kayumba, the agents received the funds from private sources while acting in their respective roles as businesspeople.
In order to further the project, he hoped that the agents would make the most of their empowerment by expanding their businesses.