Zambia has a large informal sector. How to bring the informal sector into a formal setting has always been a challenge.
In order to enjoy the benefits of Split Velocity businesses regardless of how large or small in the informal sector will have to subscribe to the service. The benefits of the informal sector subscribing to wealth creation far out-weigh operating without the service. Wealth creation has sufficient utility value to traders that it is able to move as much as 99% of the informal sector into the formal sector. They will do this voluntarily to benefit from wealth creation. This will naturally allow for government to begin to gain revenue from this sector.
Wealth creation is likely to become the most powerful tool for financial inclusion currently available. It will to bring the unbanked from the informal, into the formal banked sector due to the significant rewards that wealth creation will give its subscribers.
The financial gains from wealth creation are the incentive which will voluntarily bring anyone in the economy with a business in the informal sector forward of their own volition to register and subscribe due to the fact that even with levies and taxes the financial benefits they gain from wealth creation exceeds these costs.
A pilot will first test whether wealth creation is able to achieve its objectives.
Split Velocity Solutions Ltd 