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AKL Lumi Initiative Calls on African Financial Institutions to Unite for Digital Currency Sovereignty


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LUSAKA, Zambia – October 2025

The promoters of the AKL Lumi digital currency have issued a call to African central banks, ministries of finance, commercial banks, and fintech innovators to collaborate in building harmonised regulatory and operational frameworks that will advance the continent’s digital currency sovereignty and financial inclusion agenda.

The call follows the Bank of Zambia’s (BoZ) recent confirmation of the authenticity of the AKL Lumi endorsement letter issued under reference BOZ/EXEC/DG/LFS/BP (August 22, 2024). The move is being hailed as a significant milestone for Africa’s digital financial future, reinforcing confidence in the Lumi ecosystem as a legitimate platform for trade, settlement, and inclusive economic growth across the continent.

In a letter dated October 14, 2025, BoZ Governor Dr. Denny Kalyalya affirmed the authenticity of the Lumi correspondence, noting that the confirmation was intended “to provide clarity and confidence to financial institutions, businesses, and individuals preparing to participate in the AKL Lumi ecosystem.” The statement has since sparked renewed momentum among African policymakers and fintech leaders to work together on developing a shared framework that integrates innovation, regulation, and monetary stability.

Hanypay Zambia Limited, the licensed local franchise partner of Hanypay Ghana Limited under the authority of the African Diaspora Central Bank (ADCB), has welcomed the BoZ’s action and called it a landmark validation of Africa’s capacity to manage its own digital financial systems. The company said the Lumi initiative is not only a technological advancement but also a strategic platform to support intra-African trade and diaspora engagement within the framework of the African Continental Free Trade Area (AfCFTA).

“The Lumi represents a bridge between Africa’s traditional banking systems and emerging digital finance,” a spokesperson for Hanypay Zambia said, adding that collaboration among African regulators and financial innovators is vital to ensure transparency, stability, and interoperability. The spokesperson also emphasized that Zambia’s example of regulatory clarity could serve as a model for other nations pursuing similar digital transitions.

The Lumi, which is issued by the African Diaspora Central Bank as the legal tender of the 6th Region of Africa (ECO-6), is a gold- and renewable-energy-backed digital currency designed to promote financial inclusion and sustainable development. Its proponents describe it as a “currency issued by Africans for Africans,” symbolizing a growing movement toward economic self-determination and pan-African solidarity.

Since its introduction, the AKL Lumi has been expanding rapidly across the continent through partnerships with national fintechs, telecommunications companies, and banks in countries including Ghana, Nigeria, Kenya, Cameroon, and Zambia. Hanypay and its partners are creating digital infrastructure to enable Lumi-based transactions for goods, services, remittances, and investments, connecting African economies and diaspora markets.

Experts say the next stage of progress will depend on regulatory collaboration between national central banks and private digital finance operators. Integrating the Lumi with existing Central Bank Digital Currency (CBDC) projects such as Ghana’s e-Cedi and Nigeria’s e-Naira, they argue, would help build a unified African payment clearing system and strengthen the continent’s digital resilience.

The BoZ has reiterated that Zambia’s foreign exchange market will continue to operate under its 2024 guidelines, which promote transparency and compliance. However, the Bank’s confirmation of the Lumi’s authenticity demonstrates how digital innovation can coexist with regulatory oversight. Analysts believe this balance of innovation and governance is essential to building investor confidence and encouraging wider adoption of Africa-backed digital currencies.

The AKL Lumi initiative has therefore urged African governments, financial regulators, and the private sector to join hands in shaping a continental framework for digital finance. The call aims to ensure that Africa’s financial technology evolution remains home-grown, secure, and inclusive.

Hanypay Zambia Limited said the Lumi’s success depends on collaboration and trust among African institutions. “We need a harmonised approach that guarantees every African country can participate in the digital economy without losing sovereignty,” the company said in a statement.

With growing recognition from central banks such as the BoZ and the continued expansion of Lumi-related services across Africa, the initiative represents a decisive shift toward a future where Africans take ownership of their financial systems. The Lumi is not just a currency but a symbol of Africa’s confidence in designing its own economic destiny—anchored in trust, technology, and shared prosperity.

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