Migodi-Auric Documentation

What is Coop Pay? #

Coop Pay Ltd is the cooperative commerce and settlement subsidiary of Migodi-Auric Ltd. Its singular mission is to build a broad, representative, and functioning physical trade floor across Zambia's cooperative societies before any derivative or capital market products are issued through Aurion.

Coop Pay is not a fintech layer on top of existing systems. It works directly with cooperative societies registered under Zambia's Cooperative Societies Development framework, integrating them into the Migodi-Auric commodity and settlement network.

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Mandate from Cletus Mwiinga (CEO, Migodi-Auric): Coop Pay Ltd must build a broad cooperative trade floor spanning all Zambian commodity categories before Aurion and ZAMACE move to derivative issuance. This is a firm, non-negotiable strategic directive.

Strategic Mandate #

The mandate originates from CEO Cletus Mwiinga's direct experience within Zambia's cooperative system. Mr. Mwiinga served as Market Entrepreneurship Development Officer, lead Liquidation Manager for Eastern Province, and then District Cooperative and Marketing Officer. His exposure to unfair cooperative liquidation practices led him to later join the World Bank — and ultimately to found Migodi-Auric with a mandate to correct structural inequities in cooperative commodity markets.

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Society Registration

All participating cooperatives must be formally registered under Zambia's Cooperative Societies Development Act before onboarding.

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ABSA Settlement

Coop Coins (gold) and Coop Bars (copper) are settled directly through ABSA Bank Zambia, ensuring institutional-grade clearing.

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Believe Cash Integration

The 3,000-terminal Believe Cash kiosk network provides last-mile access for cooperative members in rural and peri-urban areas.

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NMX/DMX Ledger

All cooperative production volumes, commodity lots, and settlement records are logged on the Migodi-Auric NMX/DMX ledger in real time.

Cooperative Structure #

Coop Pay Ltd interfaces with cooperatives at three organizational levels:

Primary Cooperative Society

Individual-member cooperatives operating at village or district level. Direct producers of gold, copper, agricultural goods, or energy outputs.

Secondary Cooperative Union

Provincial-level unions aggregating production volumes from multiple primary societies. Acts as the counterparty for ZAMACE spot market transactions.

National Apex Body

National-level representation feeding into ZAMACE, ABSA settlement infrastructure, and the Aurion Trading Platform derivative pipeline.

Society Onboarding #

Cooperatives are onboarded through a structured process that verifies legal standing, production capacity, and banking alignment before any tokenized instruments are issued.

Step	Requirement	Verification
1. Legal Registration	Cooperative Societies Act certificate	ZDA / Registrar of Cooperatives
2. Bank Account	ABSA Bank Zambia cooperative account	ABSA KYC process
3. Production Audit	Verified commodity output (12-month history)	Migodi-Auric field team
4. NMX/DMX Onboarding	Cooperative ID issued on NMX ledger	Automated via Ndeipi node network
5. Coop Pay Activation	Trade floor access enabled	Migodi-Auric approval

Commodity Categories #

Gold — artisanal and small-scale miners; settled as Coop Coins (10g units) via ABSA
Copper — junior mining cooperatives; settled as Coop Bars (1kg units) via ABSA
Grains — maize, sorghum, wheat; ZAMACE spot market integration
Oilseeds — sunflower, soybean, groundnuts; ZAMACE spot market integration
Energy — solar farm output via 2,000 onboarded Zambian farms; EFST instrument
Horticulture — fruits and vegetables; planned Phase 2 expansion

Last updated · March 2026