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Finance and National Planning Minister Dr. Situmbeko Musokotwane says digital financial services continue to play a critical role in advancing financial inclusion, supporting micro, small and medium-sized enterprises, improving payment efficiency, and lowering transaction costs.
Musokotwane noted that digital platforms also contributed to increased transparency and formalisation, which are important for economic resilience and public finance management across the economy.
The Minister said this at the launch of ZANACO Chat & Transact on Thursday evening, a new banking channel that allows customers to access services via WhatsApp, a platform which he described as a step toward a more accessible and efficient financial system.
The minister said the government was working to modernise the national payments system while strengthening consumer protection as part of broader reforms in the sector.
“Through sound regulation, strong oversight, and collaboration with industry players, we aim to ensure that digital advancements are safe, inclusive, and sustainable,” Musokotwane said.
“Let me begin by commending ZANACO for this milestone. The introduction of innovative digital banking solutions such as Chat & Transact demonstrates leadership and responsiveness to the changing needs of customers, businesses, and the broader economy,” Musokotwane said.
He noted that recent national data showed a sustained increase in the use of electronic and mobile-based payment channels, with systems now processing billions of transactions annually worth trillions of Kwacha.
Musokotwane said the trend reflected growing confidence in digital financial infrastructure and a clear shift in consumer and business behaviour towards cash-lite and cash-less transactions.
He added that Zambia’s digital access continued to expand, and that platforms like Chat & Transact reduced barriers by meeting people where they already were.
Read More: ZANACO rolls out mobile money on POS, enables cash-out services on ATMs
Musokotwane added that from a policy perspective, such customer-centred innovation aligned
well with government objectives.
Mukwandi Chibesakunda, ZANACO Chief Executive Officer noted that Zambia was firmly on a digital trajectory.
“In 2025, digital connectivity continued to deepen, with mobile phones and internet access increasingly shaping how Zambians communicate, transact, and access essential services,” she said.
Chibesakunda stated that financial inclusion remained closely linked to this connectivity, as more citizens actively use digital channels to make payments, manage accounts, and engage with financial institutions.
She said the digital momentum was clearly reflected in the payment’s ecosystem and according to the Bank of Zambia’s National Payment Systems data, Zambia’s payment systems were now processing over four billion electronic transactions annually, with total transaction values running into trillions of Kwacha.
“This confirms sustained growth in the use of electronic and mobile‑based payment channels as the country continues to modernize its financial infrastructure,” Chibesakunda said.
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