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ZANACO has rolled out mobile money payments on its Point of Sale (POS) machines and enabled cash-out services on all its ATMs across Zambia, advancing a more accessible and inclusive digital payments ecosystem.
Speaking at the launch in Lusaka on Wednesday, Acting Chief Executive Officer, Kalengo Simukoko, said the initiative also supported national goals on remittances and rural financial access.
“Mobile money has become the most popular channel for sending and receiving domestic remittances because agents and mobile channels are closer to people than bank branches. By linking mobile money to POS acceptance and enabling cash-outs on ATMs, we are meeting customers exactly where they are,” Simukoko explained.
He noted that mobile money usage in Zambia had reached record levels, with Bank of Zambia data showing transactions exceeding K100 billion in March 2025 alone.
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“Regionally, Africa leads the world in mobile money, with over 1.1 billion accounts in Sub-Saharan Africa and 74 percent of global mobile money transactions processed here, totaling more than US$1.1 trillion in 2024. POS acceptance of mobile wallets is no longer just convenient—it is essential,” he said.
MTN Mobile Money Zambia Chief Executive Officer, Komba Malukutila, said the integration will broaden access to financial services, with agents able to offer payments and cash-out services through ZANACO’s platform.
“Customers can now transact seamlessly across a vast ZANACO ecosystem, while agents can offer cash-out services for the first time on such a scale in Zambia,” he said.
Malukutila added that ensuring active engagement, reliable service, and clear communication would be key to making the new offering widely accessible.
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