THE advancement and adoption of digital technologies and business models will enable a wide range of mobile money operators in Zambia to expand, says the Financial Sector Deepening Zambia chief executive officer, Betty Wilkinson.
Ms Wilkinson said such adaption would provide a wide range of mobile money operators and other financial companies to achieve greater scale, and penetrate new markets more swiftly.
She said this in Lusaka during the launch of the association for digital finance practitioners.
“Work on digital financial education is also expanding. digital financial services, when done well, can maximise developmental impact by increasing earning opportunities and thus the living standards of many Zambia,” she said.
Ms Wilkinson said the digital financial services industry in Zambia had experienced rapid growth in recent years due to enhancements from both supply and demand side.
“From the supply side perspective, technological progress has played an important role in the rapid growth of this industry. Technology has also played a part of efforts to drive down the costs of financial services,
“This enhancement is being propelled by the increasing availability of ICT infrastructure,
“Our mandate is to expand financial inclusion in Zambia, so all Zambians can understand their options and benefit from a wide range of affordable financial services.” Ms Wilkinson said