Fri, 19 May 2017 12:46:16 +0000 BY MAILESI BANDA ZAMBIA has challenges in the increased usage of digital finance due to power and network challenges as well as low financial literacy levels, especially in the rural areas. This was said by Financial Sector Deepening Zambia manager (SME finance) Jimmy Situmbeko. Mr. Situmbeko said the network and low literacy levels had created challenges to digital finance. Speaking in an interview with the Daily Nation, Mr Situmbeko, however, said Zambians were increasingly using transfer agents to move money, and digital product innovations into savings and credit products, adding that this reflected market growth. He explained that if cash flowed out of people’s houses into financial service providers, there would be more to lend to those who wanted to invest and they would then pay interest. He said the Government was working towards realizing the importance of financial innovation. “Government has realized the importance of financial innovation, and […]
