By Justine Phiri
LATRO, a Multinational company with the prime focus on telecommunications and the fintech industry, has celebrated its first anniversary in Zambia.
Speaking during in an exclusive interview with Zambia Business Time-ZBT during the LATRO one-year event held at Radisson Blu hotel, LATRO Chief Executive officer CEO Donald Reinhart noted that LATRO primary market being served currently includes Central and South Asia, Middle East, Africa and the Americas and the company’s products offering is primarily around fraud management, digital and fintech payment assurance and IT managing services.
“Most of our customers are telecom companies like MTN or Airtel or digital payment companies like MTN mobile money”, said Reinhart.
He added that LATRO establishing its presence in Zambia is due to the support the company offers to the MTN group, which is a South African multinational telecommunications company, and registered its presence in Zambia to support MTN Zambia’s IT management services operations through a team of professionals and support MTN in managing services IT as well as the digital fintech platform.
“LATRO supports MTN group, a South African-based multi-national Telecommunications Company, including MTN Zambia. LATRO registered its presence here in Zambia to support MTN and other telecom and fintech companies in the country. Our team of Zambian locals, along with our global center of excellence, provides MTN Zambia with IT services as well as assurance software for their digital fintech platform. We see promising opportunities for expansion in the Zambian market “, noted Reinhart
He also mentioned that LATRO’s long-term strategy in Zambia is around the expansion of mobile money and digital payment services on the market, and hopes to work with more providers as they ramp up and expand the fintech services across the country.
“Historically, our focus segment has been mobile network operators. Recently, we have extended this focus to the fintech sector, including mobile money and digital payment services or e-wallet providers. We are excited about the success and growth of mobile money and fintech services in Zambia. The Zambian government is leading strategies that support fintech growth and digital inclusion – ambitions that we support wholeheartedly. “, said Reinhart
He further noted that LATRO’s fintech solution integrates with MTN’s Mobile money platforms, and LATRO provides a transaction-by-transaction analysis, which allows MTN Momo to ensure that all the transactions are completed securely and according to the different regulations and compliance standards of the Central Bank.
“Our platform is 24/7 and automatic monitoring to prevent any expected behaviours like leakages and frauds, ensuring compliance with regulatory frameworks and boosting confidence in the services within Zambia,” he added.
The evening sessions of the event were later graced by the Minister of Science and Technology Hon Felix Mutati, who congratulated LATRO on its first anniversary in Zambia and emphasized on the need for market expansion to help transform the livelihood of the people of Zambia, as the Support LATRO give to MTN in growing their Business helps the company to make profit for the local people.
