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Zambia’s financial inclusion rate has climbed to 80.1 percent in 2025 from 69.4 percent in 2020, driven largely by rapid growth in mobile money and digital financial services, according to new FinScope Survey findings released on Thursday.
Finance and National Planning Minister Situmbeko Musokotwane, in remarks delivered on his behalf by Accountant General Nsandi Manza, said the results demonstrate the impact of the Second National Financial Inclusion Strategy (2024–2028), which targets broader nationwide access to financial services.
Musokotwane said the latest data also shows financial access gaps narrowing across gender and geography.
“One of the most significant developments was the sharp increase in financial inclusion in rural areas, which rose by over 16 percent,” he said at a dissemination workshop for the 2025 FinScope Topline Findings.
He attributed the rise to the expansion of digital platforms and agent banking networks that are bringing services closer to remote communities.
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The minister noted that financial inclusion among women is growing faster than among men, reducing the gender gap and supporting national goals to expand women’s access to savings, credit and insurance products.
Despite the progress, he cautioned that obstacles remain, including low digital literacy, high transaction costs and weak connectivity in parts of the country.
“This is a call to action to use these findings to design better policies, products, and programmes responding to the realities faced by our people,” he said.
Denny Kalyalya, Governor of the Bank of Zambia, welcomed the findings, highlighting that the gender gap in financial inclusion has narrowed from 3.2 percentage points in 2020 to 2.2 points in 2025.
He described this as evidence that national efforts to enhance women’s financial empowerment are gaining traction.
Kalyalya reported that rural financial health — a measure of households’ ability to manage daily finances, absorb shocks and invest — more than tripled to 37.6 percent from 11.3 percent over the five-year period.
National financial health also rose sharply, reaching 39.1 percent from 13.6 percent, though still below the 51% benchmark considered moderately healthy.
“The FinScope Survey speaks directly to several strategic priorities of the Bank and to our shared ambition of a stronger, more inclusive economy,” he said.
He added that the findings will guide work on strengthening digital payments, refining regulatory frameworks based on consumer experience, and supporting fintech innovation while safeguarding financial stability.
The FinScope Survey, conducted periodically, provides insights into household use of financial services and informs national financial inclusion policy.
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