Monday, May 20, 2024

ZAMTEL launches ZAMTEL Kwacha mobile banking service


Transport and Communications Minister Brian Mushimba launches ZAMTEL Kwacha as ZAMTEL Acting Chief Executive Officer Sydney Mupeta (L) and Bank of Zambia Governor Denny Kalyalya (R) look on
Transport and Communications Minister Brian Mushimba launches ZAMTEL Kwacha as ZAMTEL Acting Chief Executive Officer Sydney Mupeta (L) and Bank of Zambia Governor Denny Kalyalya (R) look on

ZAMTEL has launched an electronic payment solution called ZAMTEL Kwacha which it says will revolutionise mobile banking in Zambia.

The service which will enable ZAMTEL customers send and receive money electronically will also be operated across all mobile phone networks.

ZAMTEL Kwacha customers will also be able to pay for goods and services at ZAMTEL merchants and agents and be able to pay for utility bills.

The service was launched in Lusaka at East Park Mall on Tuesday.

ZAMTEL Acting Chief Executive Officer Sydney Mupeta said the new service is aimed at offering additional value and convenience to ZAMTEL customers.

Mr Mupeta said the company is confident that ZAMTEL Kwacha will compete favourably with other existing mobile payment solutions on the market.

“The essence is to provide convenience by providing electronic money and as a way of allowing the customers to shop without carrying cash and as a way of promoting a cashless society,” Mr Mupeta said.

He said ZAMTEL Kwacha will further help take financial services to the unbanked population especially in the rural areas.

“The cost of having brick and mortal and having a bank branch established in each and every rural part of this country is quite high. So we are coming in to add to that financial inclusion with ZAMTEL Kwacha by making it easy for our people to access those services that are not easy to provide by the conventional and traditional banking services,” Mr Mupeta said.

He added, “Since ZAMTEL is a public institution, the fee structure for ZAMTEL Kwacha is very affordable. As you may have noticed, some competitors have since started announcing reductions in their cost structures after hearing of ZAMTEL Kwacha launch.”

Mr Mupeta said the new product will further add value to its rural based customers especially farmers due to ZAMTEL’s huge presence across the country.

“With the Government’s announced intentions to launch Phase two of the tower project, this will introduce further coverage beyond what we have and take it to 90 percent of the country,” he said.

And speaking at the launch, Transport and Communications Minister Brian Mushimba said Government is committed to taking communication services to all parts of the country.

Mr. Mushimba said the second phase of the tower project is in line with Government’s commitment to construct infrastructure and create an enabling environment for business.

At the same event, Bank of Zambia Governor, Denny Kalyalya has called on financial institutions to review their pricing structures to make banking services more affordable.

Dr.  Kalyalya said the Central Bank also expects mobile network operators to provide fair access to network services to reduce the cost of doing business by third party entities.

ZAMTEL Acting CEO Sydney Mupeta delivering his remarks during the launch of ZAMTEL Kwacha
ZAMTEL Acting CEO Sydney Mupeta delivering his remarks during the launch of ZAMTEL Kwacha
A ZAMTEL staffer performs a demonstration of how ZAMTEL Kwacha works to Transport and Communications Minister Brian Mushimba
A ZAMTEL staffer performs a demonstration of how ZAMTEL Kwacha works to Transport and Communications Minister Brian Mushimba


  1. You should have had this facility many moons ago. How come Zamtel is always the last one to implement new innovations yet they’re so endowed in infrastructure. I wish success to this sleeping giant.

    • This will revolutionise what exactly ?

      You are so much behind it’s painful.

      Allow whites to run companies like these and you will forsee unprecedented changes for the better


    • It is better than nothing. Instead of complaining be thankful. If your child starts walking one month after other children, you rejoice and not criticise him. Mushota, sadly you will have children who will be less white and less black, the worst of both worlds. kkkkkkk

    • @Uncle Charles can you imagine even the off springs will be on benefits like the BB201,2016 (she is even too lazy to write BB2014,2016!)

  2. Trying too late to copy the runaway success of Kenya’s M-Pesa service? Well , the circumstances there that made it a huge success may not be the same in Zambia.

    South African networks tried and failed ,Indian networks have had modest success and its even a non starter in developed nations.

    • Enka, you have a point. This is a service for poor people and peasants for very small transactions. Yes, it has been successful in Kenya but the population of Kenya accelerated it’s success. There are about 46 million people in Kenya which is smaller in a geographical size compared to Zambia which has only 16 million people. Numbers are great in stimulating the economy. That said, this might be a success in Zambia to a certain degree but the volumes will be really pathetic as 54.4% of the Zambian population is very poor whilst 13% is moderately poor. Western province has the highest population of the poor at 82.2% with Lusaka province having the lowest 20.2%. In short, over 60% of the targeted end-users either have no smart phone to use or let alone have the surfing credit to use…

    • @Mulenga, this data is widely available on verifiable government sites including the WHO/UN/IMF and you know who. A quick search on the world’s poorest country says it all.

    • @Enka Mobile money didn’t work in SA as they have an advanced banking system and already have products to suit specific customers. Also the access to a bank account or account opening is not like Zambia. M-PESA worked due to need, size of the market and tech. Besides its hard to compete when you don’t have the funds.

    • South Africa has a huge under class homegrown of slum dwellers and millions of low wage immigrants .That’s the segment that can be well served by this innovative service to make it a success.Kenya’s M-PESA rakes in US$380m a yr in profits serving that same demographic.

  3. Always the last one to join the party….I am not surprised they still have an acting CEO. Get a new CEO in there from outside to bring in new ideas and direction…most importantly to shake up things. Send this acting CEO back to the engine room where he belongs.

  4. ZAMTEL is a total mess. Very inefficient and has systems which deny the company income. It was better under LapGreen

    • LapGreen had to answer to its shareholders in Libya, you dont record profit you are out…how can you expect change when you promote from within the same has happened at Zesco.
      This guy is an engineer by training…this is the same mindset used in big govt hospitals where doctors are running hospitals.

  5. Mushota how are you with P.H.D business.
    Puppy Hair Dressing is a profitable business in States and South Africa.

  6. Its time we Zambianised things Guys am all open to join and use my expertise to push this product forward.

  7. This is excellent Mr CEO and your team.Can you now work on your Call Centre and the general service provision in your outlets, It is almost imposible to get through to your call center and and when you get to your outlets,the customer care is pathetic. You have all the expertize in your workforce and the modern infrastructure in place, but the question still remains unanswered of why your services are still pathetic. You were almost a great force to reckon with when LAPGREEN NETWORKS took over, but its like you are back to your General Post Office (GPO) days. Please Sir and your team save our company you are no longer a monopoly in the ICT industry in Zambia.

  8. This network, no matter slow, is coming up really great.
    All this are just working soo fast I couldn’t imagine…
    Thank you for making it soo affordable for a child like me

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