By BUUMBA CHIMBULUFINANCIAL Service providers should assist in reducing cash transactions by increasing usage of the digital platforms while developing products for Small and Medium Entrepreneurs (SMEs).Covid-19 has amplified usage of cash thereby leading to increased use of the services, according to the Bank of Zambia (BoZ) Director Bank Supervision, Gladys Mphosha.Ms Mphosha stated that technology in financial delivery was underpinned by lower costs and economist of scale which could enhnce effeciency and expand the reach to previously unbanked areas .“Banks should seize the opportunity and opptimise the digital era we are living in ,” she said yesterday in Lusaka during the opening of the United Bank for Africa (UBA)’ Lewanika branch.Ms Mphosha urged the financial providers to pay attention to understanding the business opportunities in the market by providing solutions especially for SMEs.She said SMEs were key drivers of economic growth while women had been disadvantaged for a long time .Ms Mphosha said the […]
HELP REDUCE CASH TRANSACTIONS- BOZ
