Zanaco, ZAOU partner on e-payments

ZAMBIA

By Edith Mwale, Lusaka, Zambia

The Zambia National Commercial Bank (Zanaco) Plc has signed a partnership with the Zambian Open University (ZAOU) on the use its electronic payment platform dubbed 'Bill Muster'.

The partnership will see students from ZAOU use Zanaco's Bill Muster platform to pay for their fees from the bank's outlets across the country.

ZAOU board chairperson Maxwell Sichula said the service could not have come at a better time, as information and communication technologies were widely recognised as potential tools for socio-economic development and catalysts for the emerging knowledge economy.

He said: "Let us all embrace ICT because it has an impact on society and the economy, both as an industrial production sector and through the demand effect it has on other economic sectors and society including, of course, the education sector.”

Zanaco managing director Martyn Schouten expressed excitement at the bank's continued efforts to ensure that students are offered convenient ways of paying their fees.

He said: "We are excited that we are adding value to students, in terms of the quality of education they are receiving from the ZAOU.”

Schouten said with the Bill Muster solution in place, the university will focus on its core business of providing quality education to the students while the bank will take care of its specialty which is the provision of efficient cash management."

He added: “We are satisfied that we are helping ease the inconvenience associated with paying school fees, such us spending a lot of time in queues."