Two firms partner to support development of Zambia’s financial systems


The Financial Sector Deepening (FSD) Zambia and Alliance for Science have partnered to support the development of the country’s financial system, a critical component in driving economic growth.

The Memorandum of Understanding (MoU) would also ensure the two parties promoted initiatives to enhance public understanding and support policy development to improve livelihood in unserved and underserved population.

At the signing ceremony in Lusaka on Tuesday, FSD Zambia Chief Executive Officer, Lilian Kangwa said the two organisations would ensure that every Zambian had the opportunity to thrive financially.

She noted that the parties endeavoured to champion robust and inclusive financial systems that catered to the diverse needs of every Zambian.

Read more: Bank of Zambia expanding payment systems to promote financial inclusion —Madubeko

“We look forward to embarking on a journey that will birth a fruitful collaboration that arrives to drive financial inclusion and economic growth.

“Through partnership and innovation, we believe that we can make meaningful progress towards building a more inclusive and prosperous future for all,” she said.

Alliance for Science Director, Sheila Ochugboju, called for collaboration to help build capacity to stand strong and overcome various challenges Zambia and the continent were faced with, such as food security and climate change.

Ochugboju expressed optimism that with the current challenges, collaboration could help overcome such challenges.

“We need to swallow our pride because that is the only way we can overcome the challenges. It is about Alliance for Science leaning on FSDZ to help us build our capacity to stand strong as an independent organisation, putting in place financial and corporate systems.

“These will help us to deliver on our mandate to usher in a future where science and innovation is shared and supported to help bring a world without poverty, where people everywhere can flourish on an ecologically protected and restored planet,” she said.

Ochugboju said Zambia was also faced with challenges such as climate change which in turn impacted food security and nutrition among others.

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