Home Southern Africa Zambia clocked 300 % growth in mobile money transactions

Zambia clocked 300 % growth in mobile money transactions

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Over 300 billion Zambian Kwacha worth of mobile money transactions were recorded in Zambia during the calendar year 2022, this marks a whopping growth of above 300% compared to the previous year. Technology and Science Minister Felix Mutati attributed this to the rollout of new technologies such as 5G, and the role of enthusiastic service providers such as MTN enabled the level of ICT adoption and usage in Zambia.

Over 300 billion Zambian Kwacha worth of mobile money transactions were recorded in Zambia during the calendar year 2022, this marks a whopping growth of above 300% compared to the previous year. Technology and Science Minister Felix Mutati attributed this to the rollout of new technologies such as 5G, and the role of enthusiastic service providers such as MTN enabled the level of ICT adoption and usage in Zambia.

Mr. Mutati said 5G connectivity is increasing which makes Zambia one of the big boys in Africa with regard to technology. He further stated that the government in consultation with the ICT players will have to sort out issues around accessibility, availability, and affordability of ICT products even in rural areas. The government should take the lead in erecting mobile towers across the country and also work on appropriate financing to make connectivity faster.

Mr. Mutati stressed that no government can go digital without connectivity and that the solutions showcased such as cloud computing are able to increase data security and reduce data losses. He singled out 5G as an enabler of digital industrialization adding that it has smart campus solutions that have also the power to transform the education sector.

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The Minister commended Huawei for its initiatives in this sphere and called on more collaborations to integrate the advanced solution in order to boost Zambia’s growth. In response, Huawei’s Vice President called on the private sector and the government to embrace advanced technologies to boost Zambia’s social and economic growth. Building digital infrastructure and providing services and talent are the three cornerstones of the digital economy era. Huawei has evolved and it is currently providing the latest technological products and solutions ranging from 5G, Fintech, and rural connectivity.