PremierCredit is an international multi-award winning fintech, established in 2019 to offer affordable and convenient financial solutions to individuals and small medium enterprises. The platform connects investors from around the world to borrowers in Zambia, and to date it has raised funds from over 11,800 investors.
This morning, the Guest of Honour, Hon. Felix Mutati,Minister of Science and Technology, accompanied with the acting Chief Executive Officer of Zamtel, Mr. Joshua Malupenga together with PremierCredit Chief Executive Officer Mrs. Chilufya Mutale launched the PremierInvestproduct on Zamtel mobile money menu.
Speaking at the launch held in Lusaka today, Zamtel acting Chief Executive Officer Joshua Malupenga said, Zamtel is the Zambia’s first and longest serving telecommunication Company which has influenced human and social development in the country. This influence spills over to people’s daily lives, touching everyone from communication, education, entertainment, heath, wealth creation, entrepreneurship and innovative technology development.
According to his statement, Zamtel has partnered with PremierCredit to continue offering convenient and efficient services for customers in order to access, trade and do business at the best and quickest online-based investment options. The partnership will drive digital investment solutions in line with global trends and ensure that Zambia does not lag behind. The products will also enable customers to save and invest with favourable interest rates straight from their Zamtel Mobile Money account which is convenient and easy to grasp.
“The mobile money subscriber base increased from 9.8 million in 2021 to 11.2 million in 2022, representing a growth rate of 13.98 percent of users in the country. This is one way Zambia is working to provide digital financial services and to increase financial inclusion in the country by enabling individuals from lower income to middle income groups to save and grow their wealth. Zamtel takes pride in working with local and innovative companies such as premier credit”. Mr. Malupennga added.
In his final remarks, Mr Malupenga stated that, ZamtelCompany has physical presence in almost all the parts of the country and it will continue taking service-access closer everywhere and being digitally available 24/7 to everyone.
Meanwhile, speaking during the same launch, Chief Executive Officer of PremierCredit, Chilufya Mutale highlighted the importance of this initiative by saying, “this initiative marks a significant milestone in the world of finance, as we embrace the power of technology and human connection to foster a new era of lending and borrowing. In a world where traditional banking systems have often overlooked the needs of individuals and small businesses, peer-to-peer lending emerges as a beacon of hope. It embodies the principles of inclusivity, accessibility, and empowerment, ensuring that financial opportunities are not limited to a privileged few but made available to all those who aspire to grow and prosper”.
According to her, this platform will enable every individual and businesses to connect directly, cutting out the intermediaries and red tape that often slow down the lending process. It opens up a world of possibilities for those seeking funding and those looking to invest their capital in a meaningful and mutually beneficial way.
“One of the key strengths of this collaboration is its ability to harness the power of technology. With advanced algorithms, data analytics, and secure online systems, users can facilitate efficient and transparent transactions, ensuring the utmost privacy and security for our users. This cutting-edge technology enables us to assess creditworthiness, evaluate risks, and provide personalized solutions tailored to the unique needs of borrowers and lenders. Beyond the technological prowess, what truly sets this initiative apart is the sense of community it fosters. It embraces the spirit of collaboration and trust, creating an ecosystem where individuals can support each other’s dreams and aspirations. By connecting borrowers with lenders who believe in their potential, we create a virtuous cycle of growth and prosperity”. Mrs. Chulufya added.
She further said, “Today we celebrate not just the launch of Zamtel– PremierCredit Partnership, but the launch of a movement that is set to redefine the way we think about finance. Together, we have the power to democratize lending, make investments simple and accessible, empower individuals to build a financial future and wealth, and propel economies forward. It is an honor to be part of this journey, and I extend my deepest gratitude to all those who have contributed to making this platform a reality”.
In summing up, Mrs. Chilufya requested everyone to embrace this new era of financial inclusion and empowerment. She said, “Let us harness the power of technology and human connection to build a future where everyone has access to the resources they need to thrive”.
Speaking at the same launch, Hon. Minister of Science and Technology, Felix Mutati, appreciated both PremierCreditChief Executive Officer Mrs. Chilufya Mutale and Zamtelacting Chief Executive Officer Joshua Malupenga for creating a strong bound and initiative to launch the PremierInvestproduct on mobile money menu. The Minister said, in order to change anything in life, one should not fight existing reality but build a new model.
“The launch which has been launched today is a ground breaking innovation which will enable everyone to access good services and receive good return from investment. The innovation has meet all the three major critical criterial of being; accessible, availability and affordable. It is accessible to anyone wherever they are, even those in rural areas. The services are available to anyone with any kind of devise one is using be it smart or not and it has a critical component of being affordable to all, in the sense that any person can invest with any amounts without any limitation”. The Minister said.