Source: https://rivet.global/blog/zambia-mining-suppliers-paying-in-usd-and-zar
Published: 2026-11-01 · Updated: 2026-11-01 · By William Sunjo M.

# Zambian mining suppliers paying their own suppliers in dollars and rand

Zambia's mining service companies buy parts and equipment from South Africa, China and elsewhere. How to pay in rand, dollars and yuan, control approvals and avoid fraud.

## Key takeaways

- Zambian mining suppliers commonly buy from South Africa in rand and from China and elsewhere in dollars.
- Paying South African suppliers in rand avoids dollar-to-rand conversion on their side and can lower prices.
- Supplier payment fraud targets regular, large cross-border payments.
- Approvals and verified bank details are the main controls.

A Solwezi mining services company buys hydraulic spares from Johannesburg, tyres from a Chinese manufacturer and pumps from Germany. It earns dollars from the mines. It paid the Johannesburg supplier in dollars for years, until the supplier offered a lower rand price. Then a fake email changed the supplier's bank details, and one payment went missing.

## Currency by supplier

- South Africa: rand. Many suppliers quote lower in rand.
- China: dollars, sometimes yuan.
- Europe: euros.

Compare each supplier's price in its currency against your cost of buying that currency from dollars.

## Fraud

Regular cross-border supplier payments attract fraud. A convincing email announces new bank details, often in another country or another name. Rules that prevent most losses:

1. Check the account name matches the supplier.
2. Confirm changes by phone with a known contact.
3. Require a second approver for payments to new details.

## Documents

Keep customs declarations, supplier invoices and payment proof together for each import. They support tax and audit records.

## Paying into Zambia: the local rail

| What | Detail |
|---|---|
| Local rail | National Financial Switch instant transfers |
| Run by | Zambia Electronic Clearing House Limited, under the Bank of Zambia |
| Settlement | Seconds between banks and mobile money |

Source: [Zambia Electronic Clearing House](https://www.zechl.co.zm/). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

A Rivet business account accepts registered companies after verification, including Zambian companies. It pays suppliers in 120+ countries in their currency where available, shows the rate before you confirm, and from the Growth plan can require a second approver. Rivet is not a bank; regulated partner institutions hold the funds.

See [the ZAR business payments guide](/blog/zar-business-payments).

## Questions

### Should Zambian companies pay South African suppliers in rand?

Often yes. Rand prices avoid the supplier's conversion and can be lower. Compare with the dollar price after your cost of buying rand.

### How do I check a supplier's account?

The account name should match the supplier. Confirm details by phone with a known contact before the first payment.

### Do imports need documents?

Yes. Customs declarations and invoices support import payments and tax records.

### How can payments be controlled?

Require a second approver for payments, especially to new or changed bank details.