African fintech company Zoona is gearing up for fast scaling in 2016 and beyond. The mobile money service provider, with operations in Zambia and Malawi, plans to be in ten African markets by 2020. In order to prepare for the next stage of its expansion and scaling, the company has made a number of high profile appointments to its Executive Team.
Andrew Milne, co-founder and former CEO of medical startup Hello Doctor – joins Zoona’s Executive Team as its new Chief Operating Officer.
Zoona has also appointed Lelemba Phiri, formerly its Managing Director in Zambia and Malawi, as its new Chief Communications Officer.
As CEO of Hello Doctor, Andy Milne oversaw the expansion of the service into 5 new markets across Africa and Asia. Prior to co-founding Hello Doctor, Andy was a part of the Virgin Group of Companies – where he spearheaded the launch of Virgin Pulse (then known as Virgin Healthmiles) in the US Market. This experience will serve him in good stead as Zoona takes aim at a number of new markets in the coming months and years, including Mozambique, DRC, Ghana and others.
“Technology has incredible potential to bring financial inclusion in Africa. Zoona’s model of investing in and working with emerging entrepreneurs has proven results and impact in Zambia and Malawi – and is now ready to be tested in other places in the continent” – said Milne.
As Managing Director of Zoona in Zambia, Lelemba was at the helm during a period of unprecedented growth for the company that saw it achieve 80% year on year growth, reach 1,500 locations in Zambia and Malawi and active consumer base of 1.5 million people. During the time, Lelemba was also named one of Africa’s most influential women in the Most Influential Women in Business and Government Awards run by CEO Magazine.
“I have seen first-hand the impact that Zoona has brought, particularly in terms of growing female entrepreneurship and in powering the Girl Effect in Zambia and Malawi. We are looking forward to growing this impact in more countries over the next few years and partnering with key government and other institutions to make this happen,” said Phiri.
She added that the continued support of investors Omidyar Network and Accion, as well as frequent partners CGAP, Unreasonable Group and IFC would be key in the coming cycle.
Zoona’s Chief Executive Officer, Mike Quinn, said that: “Zoona’s model of investing in and growing young women and men as franchise agents has been proven to help communities thrive. We’re excited to start replicating it in other markets, and we’re thrilled to add Andrew and Lelemba to our executive team to drive this forward.”
Zoona is an African fintech company founded in 2009 with the vision of helping communities thrive. Since launching, it has created over 2,500 jobs in Zambia and Malawi, empowered over 1,000 entrepreneurs to start their own business and paid close to $10 million in Agent commissions. The company has processed over $1 billion in mobile money transactions. In 2012, Zoona raised $4 million in an international Series A investment round led by the Omidyar Network and Accion Fronteir Investments. Zoona is currently in the process of completing its Series B investment round.