Act grows mobile banking

MOBILE

|
Image: By BiztechAfrica
Act grows mobile banking

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. 



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE MOBILE NEWS

5th edition of Tigo Ghana Meets Naija launched

The biggest musical concert on the events calendar, Ghana Meets Naija, returns in its fifth year, with an even bigger and more exciting package for music fans in both Ghana and Nigeria. Read More

Tigo launches bid to become biggest 4G network in Tanzania

Tigo Tanzania has launched a brand new 4G LTE technology, which it says will make it the biggest and fastest Internet network in the country. Read More

Tigo Big Six - data liberation for Ghanaian subscribers

Tigo’s Unlimited (Tigo Big Six) package gives real freedom to new customers to enjoy extended internet access.   Read More

Mobile Africa 2015: African phone use decoded

A survey of mobile phone usage in five African countries has delivered startling findings on the rise of Internet access via phones, the potential demise of Nokia and the continued appeal of BlackBerry. Read More

President Jonathan commends operators on National Mobile Health Insurance collaboration

Nigerian President Goodluck Jonathan has commended telecoms operators for their collaborative efforts in putting Nigerians on the National Mobile Health Insurance programme platform. Read More

Vodafone Ghana Fixed Broadband customers get bundle extension

Vodafone Ghana says it will soon be offering a one-week validity extension to all fixed broadband users in the country.  Read More

Airtel, UNAIDS partner

The Chief Executive Officer, Airtel Nigeria, Segun Ogunsanya, has explained that the partnership of the telco with the Joint United Nations Programme on HIV/AIDS (UNAIDS) will allow ample opportunity to further promote its Touching Lives initiative aimed at positively impacting on Nigerians, especially in the area of quality healthcare ... Read More

GSMA: mobile phone gender gap emerges

A new GSMA report says over 1.7 billion women in low- and middle-income countries do not own mobile phones. Read More

French phone maker Archos debuts in Nigeria

French mobile devices major, Archos Societe Anonymes, at the weekend in Lagos, launched its range products and connected objects, promising to redefine the service offering in the country. Read More

Glo’s smart plan gives enhanced voice, value to customers

Globacom subscribers on the postpaid platform will enjoy up to 5,000 free Short Messaging Service (SMS), up to 50GB data and up to 50 hours of free voice calls in a new and unprecedented Smart Postpaid Plan launched by the company in Lagos. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

e-commerce space untapped, says phonekings heade-commerce space untapped, says phonekings head

E-commerce is the future, says the head of a new online electronics mall launched in Nigeria. Tayo Olusanya spoke to Kokumo Goodie in Lagos.

IN DEPTH

Villagers get solar training at Barefoot College Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.