The ECO-6 Region rolled out a stimulus package for the extremely poor or vulnerable Africans who can barely survive on less than a dollar a day with the aim to alleviate poverty across the Continental Africa.
The Programme which began in the year 2020 with the first disbursement of 6.26 Lumi (AKL) paid on the 28th of October that same year (2020) and since then the monthly payment of 6.26 Lumi continued to this very day (31st of March, 2022). According to the officials of the giant programme which presently has over four million beneficiaries across the Continental Africa and beyond, the stimulus will continue to be paid until 28th of October, 2023.
Beneficiaries of the project which have been assured to transform the economy of Africa also liberate African Countries from the shackles of foreign loans which literary has enslaved the Continental African Governments, compelling them to devaluate their currencies in order to meet up with the current economic challenges but yet realizing in the end that the situation has rather been worsened or accelerated.
The Lumi currency is pegged against a very costly and valuable commodity (4 grains of gold) and as such, it is believed that the currency can not be determined by the dollar market value which most African Currencies are pegged against.
What is the fate of Lumi beneficiaries in the Continental Africa?
Towards the end of last year, the Authorities of the ECO-6 assured Lumi beneficiaries of transformational changes to be witnessed this year (2022). An exchange platform was unveiled by the Managing Director African Royal Bank, Mr. Martin Wiseman but beneficiaries claimed no update is received afterwards.
Concerning the new platform by Swifin (https://connect.swifin.com) many new features of the new Swifin platform suggest exchange could begin anytime soon. However, Swifin Users lament that they are still not able to trade with digital currency up till now. When contacted, Swifin technical team do not seem to have a specific reason as to why the currency is yet to start conversion.
Although, P2P transfer are only done between fraudulent accounts created with fake documents mainly to be receiving the stimulus payment monthly. NewsWay believes that reasonable transactions with the Lumi may be achieved only after the expiration of the stimulus monthly payment.