Act grows mobile banking
MOBILEBy BiztechAfrica - Sept. 17, 2012, 12:09 p.m.
By Edith Mwale, Lusaka, Zambia
The Bank of Zambia has revealed that the enactment of the 2007 National Payments Systems Act has helped increase access to mobile banking services in the country.
The bank said Zambia has seen rapid growing in the mobile banking services because only about 33% of the country’s population has access to banking service while the rest of the population remains unbanked. Zambia has a population of slightly above 13 million, according to a recent population census.
Bank of Zambia deputy governor of administration Tukiya Kankasa Mabula said: “The mobile payment industry has helped accelerate the provision of banking services especially in rural and remote areas.”
Kankasa was speaking at the 4th mobile banking conference held in Lusaka last week sponsored by Celpay Zambia, a mobile banking solution service provider.
And Celpay International Group chief executive officer Lazarus Muchenje said mobile banking has changed the way banking services are deployed especially in developing countries.
Muchenje said mobile banking has grown rapidly over the last decade with over 600 mobile payment platforms developed across the world.
He revealed than only 10% of such platform have been successful especially in developing countries.
Muchenje said Zambia should give itself a big applause for pioneering mobile banking when the first transaction was conducted successfully on April 24, 2002 at the Celpay office in Lusaka.
He said K12.5 trillion worth of transactions have occurred via the Celpay platform over the last 10 years but expressed confidence that another K6 trillion will be transacted over the next six months.
MORE MOBILE NEWS
Orange to distribute Juliani albumOrange has signed an agreement with local Kenyan musician Juliani that will see the popular musician sell his third album, ‘Exponential potential’, exclusively through the Telco’s 35 flagship outlets across the country. Read More
TNM donates K500,000 to paediatrics groupMobile phone provider TNM has donated K500,000 to the Paediatric and Child Health Association (PACHA). Read More
YooMee Côte d’Ivoire launches TD-LTEAfter becoming the market leader of broadband Internet in Cameroon, YooMee Africa continues its expansion by deploying its network in Côte d’Ivoire. Read More
tn mobile 3G now in TsumebTelecom Namibia’s mobile business, tn mobile, has extended its 3G+ and 4G (LTE) based mobile network to Tsumeb in the Oshikoto region. Read More
Vodafone Healthfest train stops at James TownVodafone Ghana, as part of its Corporate Social Responsibility through the Vodafone Foundation, has held another ground breaking health initiative dubbed the HealthFest. Read More
Orange to power Nakuru free Wi-FiNakuru is to become the first town in Kenya to have free Wi-Fi access. Read More
Nokia unveils 6 inch smartphones in GhanaNokia has announced the introduction of its first 6 inch Lumia smart phones into the Ghanaian phone market, the Lumia 1520, Nokia’s top of the range Windows Phone and affordable Lumia 1320. Read More
tn mobile 3G now in OshikotoTelecom Namibia’s mobile business, tn mobile, has launched its 3G service at Omuthiya, the regional capital of Oshikoto region. Read More
Orange launches low cost WiFi at KUOrange has launched a low cost wireless Internet solution at the Kenyatta University’s main campus that will provide the varsity’s students with reliable and affordable Internet access. Read More
FEATURED STORYKenyan shift to Green Economy would generate USD 45bn by 2030
Kenya’s transition to a green economy could produce major economic benefits equivalent to an estimated USD 45 billion by 2030, a new study shows.
BEST READ NEWS
IN DEPTHE-waste threatens Ghana’s beaches
Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.
COMPANY NEWSMTN makes it onto World Champions list
MTN Group has been named as the only South African company on the World Champions list.VMware Reports First Quarter 2014 Results
VMWare has announced Year-over-Year revenue growth of 14% to $1.36 Billion in its Q114 results.