Innoson Motors partners Zugacoin, to be used in vehicle & other purchases
Zugacoin – Innoson Motors, Nnewi indigenous vehicle manufacturing/assembling company goes into partnership with the first African indigenous cryptocurrency of Nigerian decent “Zugacoin.”
The partnership is aimed at adopting the indigenous coin as an acceptable currency in making payments for car purchases/goods and services with the native automobile brand.
About Innoson Motors
Innoson vehicle manufacturing (IVM) Co. Ltd, is a Nigerian automobile and bus manufacturing company founded by “Chief Innocent Chukwuma Nwala.”
The company runs a plant in Nnewi Anambra state.
Other product class by (IVM) include;
- Motorcycles
- Tri-cycles
- Spare parts
- Plastic and accessories at large.
About Zugacoin
Zugacoin is the first African cryptocurrency created by Archbishop Sam Zuga, this coin is aimed at rebuilding Africa’s dwindling economy by becoming a coin in equity and investment funding for Africa’s government.
Zugacoin was created in view of challenges that stares at entrepreneurs and emerging businesses in Africa, with a blue print to provide solution to the underlying problems, while making Africa a hub for a prospering economy.
Ideally, Zugacoin was founded in 2020 by Archbishop Sam Zuga and unveiled on December 1, 2020, which has successfully made its conversion into the Fiat currency.
Zugacoin grand cash-out
The Archbishop and the pioneer founder of the cryptocurrency in its grand cash-out on Wednesday March 3rd, 2021 made his remark as follows;
“Let it be on record all over the world that Zugacoin was first cashed out/withdrawn and converted into Fiat currency on 3rd March 2021 at about 13 minutes past 11AM.
“When God says yes, nobody can say no and with God all things are possible, all things are possible.”
On Zugacoin partnership with Innoson Motors (IVM)
According to a report, Archbishop Sam Zuga and Chief Innocent Chukwuma of “Zugacoin and IVM” respectively went into partnership deal on March 13, 2021.
With this development, the Zuga crypto can now be used in settlement for goods and services purchased with “IVM.”
The future of Zugacoin in Nigeria and Africa
Archbishop Zuga pointed out the challenges of starting a business in Africa and how he intends to solve these problems by giving out loans to businesses while encouraging investors.
Through the use of blockchain technology, Zuga intends to change Africa for good.
The crypto wants to unlock the potentials of the word’s growing and perceived largest workforce through availability of;
- Learning
- Earning
- Spending and
- Savings across Africa
Conclusion
Should the coin achieve its objectives with relative support, if there could be adoption by other businesses for local trade.
Trading and settlement for goods and services, there may be a bright future in view, however, that’s left to be seen.
