Third Anniversary Celebration of Lumi Digital Currency to Coincide with Final Disbursement
The Economic Community of the Sixth Region (Eco-6) and Swifin, the digital platform managing the Lumi currency, have announced the conclusion of the Lumi stimulus program on October 28, 2023. The program, which began in October 2020, has provided a monthly economic stimulus of US$100 (equivalent to 6.26 LUMI) to every African individual over the age of 18, both within the continent and in the diaspora.
The Lumi stimulus has been instrumental in promoting socio-economic growth across Africa and its diaspora. As a Pan-African initiative, it has supported individuals and communities in their economic endeavors, fostering financial inclusion and empowering individuals to participate in the digital economy.
“The Lumi stimulus has been a remarkable success in fostering economic development and financial inclusion across Africa and its diaspora,” stated McPherson, Head of the African Diaspora. “We are proud of the impact this program has had on individuals and communities, and we look forward to continuing to support economic growth through innovative initiatives.”
In conjunction with the final disbursement of the Lumi stimulus, the Head of the African Diaspora has also announced the third anniversary celebration of the Lumi digital currency, to be held on October 28, 2023. The celebration will commemorate the achievements of the Lumi currency and its role in promoting economic progress across Africa and its diaspora.
The Lumi, backed by solar energy and gold, is the official currency of the Economic Community of the African Diaspora 6th Region (Eco-6). It is issued by the Africa Diaspora Central Bank (ADCB) and its member state financial institutions. In January 2021, the African Finance Regulatory Authority (AFRA) Commission integrated the Lumi as legal tender for continental Africa.
The name Lumi, derived from the word “luminous,” symbolizes the Sun (Ra). Solar energy, a sustainable and abundant resource, aligns with Africa’s commitment to environmental protection and sustainable development.
The decision to promote Lumi as a global African currency was first publicly announced by H.M. Rex Semako I & VI Chief Timothy Elisha McPherson during the 2018 Intra-African Trade Fair in Cairo, Egypt, organized by the African Export-Import Bank and the African Union.
The Lumi is not a cryptocurrency. It is underwritten by 100KWh of solar energy and convertible to 4 grains of gold, equivalent to 0.2592 grams. The current value of 1 LUMI is US$15.96.
The Lumi stimulus program has been a testament to the transformative power of innovative economic initiatives. Its conclusion marks a significant milestone in Africa’s economic journey, paving the way for continued growth and prosperity. Continue Reading
I agree with you. The only challenge to start up Swifin Services is lack of investors. I urge the board to seek investors in a large no. ot them. Otherwise nothing is hindering Lumi at work. Another point the board ought to look measures protect and guide Lumi in service in any state of acceptance.
God bless you