In a development signalling Africa’s accelerating transition toward a unified digital financial ecosystem, the Bank of Zambia (BoZ) has officially authenticated the AKL Lumi endorsement letter issued under reference BOZ/EXEC/DG/LFS/BP (August 22, 2024), confirming the legitimacy of the Lumi ecosystem’s expanding footprint across the continent. The endorsement follows the formal registration of Hanypay Zambia Limited as a local content franchise partner of Hanypay Ghana Limited, duly licensed by the African Diaspora Central Bank (ADCB) — the regional monetary authority of the 6th Region of the Economic Community of Africa (ECO-6) and issuer of the AKL Lumi digital currency.

A NEW ERA OF TRUST AND FINANCIAL INCLUSION

In its letter dated October 14, 2025, signed by Dr Denny Kalyalya, Governor of the Bank of Zambia, the central bank explicitly affirmed the authenticity of the August 22 correspondence, noting that the confirmation “is meant to provide clarity and confidence to financial institutions, businesses, and individuals who are preparing to participate in the AKL Lumi ecosystem.” This validation underscores the growing institutional recognition of the Lumi as a continental settlement instrument, driving cross-border trade, diaspora investment, and digital financial inclusion across Africa and its global diaspora communities.

EXPANDING THE AKL LUMI ECOSYSTEM IN ZAMBIA

The BoZ confirmation coincides with strategic progress by Hanypay Zambia Limited, which has achieved the following milestones:

1. Secured certification from the Zambia Revenue Authority (ZRA) for lawful operations and tax compliance.
2. Commenced onboarding of Zambian businesses and merchants to facilitate Lumi-based transactions for goods and services.
3. Initiated partnerships with local telecommunications companies to expand Lumi wallet access through mobile integrations.
4. Established fiduciary partnerships with commercial and investment banks, ensuring alignment with Zambia’s Banking and Financial Services Act (2017).
5. Engaged financial-service providers and fintech innovators to integrate Lumi into payment gateways and e-commerce platforms.

These efforts form part of a broader Pan-African strategy to anchor the Lumi as Africa’s green, gold-backed, and sustainable digital legal tender, supporting trade and development under the African Continental Free Trade Area (AfCFTA) framework.

REGULATORY ALIGNMENT AND TRANSPARENCY

The BoZ reiterated that the trading and sale of foreign exchange in Zambia remain subject to its Foreign Exchange Market Guidelines (2024), gazetted under Notice No. 525 of 2024, which aim to enhance transparency, efficiency, and accountability in the domestic forex market.
The guidelines define “authorised dealers,” specify transaction requirements, and empower the Bank to regulate cross-border financial operations — provisions that complement Lumi’s compliance-first architecture. This clear legal foundation positions Zambia as a regional pioneer in integrating traditional monetary systems with digital and diaspora-linked financial instruments, ensuring both innovation and financial stability.

THE VISION: PAN-AFRICAN MONETARY SOVEREIGNTY

With the BoZ’s authentication, Zambia joins a growing list of African institutions demonstrating confidence in Lumi’s design — a currency issued by Africans for Africans, anchored on renewable-energy principles, asset-backed guarantees, and intercontinental solidarity. Analysts note that the Lumi represents more than a payment instrument: it is a symbol of Africa’s financial independence and a practical mechanism for linking trade, investment, and sustainable growth across the 6 Regions of Africa — North, South, East, West, Central, and the Diaspora.

CONTINENTAL MOMENTUM AND GLOBAL SIGNIFICANCE

Across Africa, Hanypay and the ADCB have been onboarding merchants, telcos, and fintech partners in Ghana, Nigeria, Kenya, Cameroon, and now Zambia — creating the infrastructure for a Pan-African digital trade network that transcends currency barriers. Experts believe that Lumi integration with Central Bank Digital Currency (CBDC) initiatives, such as Nigeria’s e-Naira and Ghana’s e-Cedi, could enhance interoperability, liquidity, and digital resilience — paving the way for a continental payment clearing system under African governance.

A CALL TO AFRICA’S POLICYMAKERS AND BANKS

The AKL Lumi initiative now invites African central banks, ministries of finance, commercial banks, and fintech innovators to collaborate on harmonised frameworks that support Africa’s digital currency sovereignty and financial inclusion agenda. Zambia’s regulatory clarity offers a replicable model for other nations seeking to align innovation with macroeconomic stability. As digital transformation accelerates, the Lumi stands as a testament to Africa’s capacity to design its own financial future — anchored in trust, technology, and shared prosperity.

ABOUT HANYPAY ZAMBIA LIMITED

Hanypay Zambia Limited is a licensed local content franchise partner of Hanypay Ghana Limited, operating under the authority of the African Diaspora Central Bank (ADCB) — issuer of the AKL Lumi. Hanypay provides Lumi-linked payment, remittance, and business-onboarding services to promote trade and inclusion across Africa and its diaspora.