Africa’s digital currency revolution gains ground as Bank of Zambia confirms AKL Lumi’s Authenticity 

By: Gloria Anderson

Africa’s push toward a unified digital financial system has taken a major leap forward as the Bank of Zambia (BoZ) officially confirmed the authenticity of the AKL Lumi endorsement letter (Ref: BOZ/EXEC/DG/LFS/BP, dated August 22, 2024).

The central bank’s verification cements the legitimacy of the Lumi ecosystem, which continues to expand across the continent. The confirmation follows the registration of Hanypay Zambia Limited as a certified local content franchise partner of Hanypay Ghana Limited, duly licensed by the African Diaspora Central Bank (ADCB)  the monetary authority of the 6th Region of the Economic Community of Africa (ECO-6) and issuer of the AKL Lumi digital currency.

In a letter dated October 14, 2025, and signed by Dr. Denny Kalyalya, Governor of the Bank of Zambia, the BoZ reaffirmed the authenticity of the Lumi endorsement, stating that the confirmation aims to “provide clarity and confidence to financial institutions, businesses, and individuals preparing to participate in the AKL Lumi ecosystem.”

This development marks a key step in institutional recognition of the Lumi as a continental settlement instrument, enabling cross-border trade, diaspora investment, and digital financial inclusion across Africa.

Hanypay Zambia’s activities demonstrate the country’s readiness for Lumi adoption. As the company has:

Secured Zambia Revenue Authority (ZRA) certification for legal and tax compliance.

Begun onboarding Zambian businesses and merchants for Lumi-based transactions.

Partnered with telecom companies to integrate Lumi wallets into mobile platforms.

Established fiduciary partnerships with banks under Zambia’s Banking and Financial Services Act (2017).

Engaged fintechs and e-commerce platforms to enable Lumi payments.

These steps align with a Pan-African strategy to anchor the Lumi as a green, gold-backed, and sustainable digital currency supporting trade under the AfCFTA framework.

The BoZ emphasized that foreign exchange trading in Zambia remains governed by its Foreign Exchange Market Guidelines (2024), gazetted under Notice No. 525 of 2024. The regulations define authorized dealers and set requirements for cross-border transactions  aligning closely with Lumi’s compliance-driven architecture.

This framework positions Zambia as a regional trailblazer in blending traditional monetary systems with digital and diaspora-linked finance, ensuring innovation within a stable regulatory environment.

Zambia’s confirmation reinforces growing confidence in the Lumi across Africa. Designed by Africans for Africans, the Lumi stands on principles of renewable energy, asset backing, and economic solidarity.

Analysts view the Lumi not just as a digital currency but as a symbol of African monetary independence  connecting trade, investment, and sustainable development across Africa’s six regions: North, South, East, West, Central, and the Diaspora.

The Lumi ecosystem, led by Hanypay and the ADCB, is expanding through partnerships with merchants, telcos, and fintechs in Ghana, Nigeria, Kenya, Cameroon, and now Zambia.

Experts suggest future interoperability with Central Bank Digital Currencies (CBDCs) like Nigeria’s e-Naira and Ghana’s e-Cedi could strengthen liquidity and create a continent-wide payment clearing system under African governance.

The AKL Lumi initiative is inviting African central banks, finance ministries, commercial banks, and fintech innovators to collaborate on harmonized digital frameworks that promote financial inclusion and monetary sovereignty.

Zambia’s regulatory clarity offers a replicable model for other African nations seeking to balance innovation with economic stability.

Hanypay Zambia Limited is a licensed franchise of Hanypay Ghana Limited, operating under the African Diaspora Central Bank (ADCB)  issuer of the AKL Lumi. Hanypay provides Lumi-linked payment, remittance, and merchant services to drive inclusive trade across Africa and the global diaspora.

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