Sprint Money specializes in mobile handset leasing, prepaid mobile airtime distribution and mobile money business in Zambia. The company started with leasing mobile handsets to government departments and businessmen in 1997 and went on to become the first distributor of prepaid mobile airtime and then ventured into mobile money transfer dealerships in 2014. The business is based in Lusaka and has a nationwide footprint in all 10 provinces of Zambia, with an experienced and capable team in place to service large vendors such as MTN and Zanaco as well as retail clients across the country.
Sprint Tiyende will be an innovative e-commerce application offering unbanked rural communities cashless payments, credit reports, and input credit for the government’s farmer input support programme through an outgrower scheme for a milling company to raise productivity and incomes. The services will be delivered by building on an existing mobile money and agency banking business. The project is expected to deliver US$8.3 million worth of benefits to 45,000 households through access to credit, increased productivity and higher incomes. Sprint has partnered with a leading bank, and a respected NGO to recruit customers from among its existing beneficiaries through capacity building as well as engaging 400 new mobile money agents.
An innovative approach will be used for the project by providing previously unbanked rural farmers with input loans financed by an outgrower scheme. The solution will be delivered using mobile technology to link rural farmers to the formal financial system and merchants nationwide. Agents will be supported through Sprint's expertise in distributing mobile money, managing liquidity and cash collection. By using mobile money, transaction visibility will be achieved to enable credit histories to be developed. This will allow buyers to setup new outgrower schemes and finance input credits for greater farmer productivity.