5 C
Alba Iulia
Monday, February 24, 2020

Promoting Women’s Access to Digital Financial Services

Headlines Promoting Women’s Access to Digital Financial Services

The United Nations Capital Development Fund’s (UNCDF) Mobile Money for the Poor Programme (MM4P) recognize the fact that when it comes to financial inclusion in Zambia, women are more likely than men to be financially excluded across both formal and informal services. Compared to their male counterparts, women in Zambia are at a disadvantage in accessing financial services. Although women make up 51% of the Zambian population, only 58% of women have access to formal or informal financial services (this includes banks, mobile money, savings groups combined) as opposed to 61% of men who have access to these same services.

One of the key objectives of the Mobile Money for the Poor Programme (MM4P) is to support DFS providers in Zambia to adopt a method of service delivery that suits the customer’s needs and wants. At a workshop recently held in Lusaka, UNCDF and representatives from various organizations including Airtel Money, FINCA Zambia, MTN Mobile Money, Zanaco and Zoona met to discuss one innovative approach, human centric design and iterative testing, that is changing how DFS providers approach product/service design and implementation to improve access and uptake. “For financial services, specifically digital financial services, to be accessible and useful to all Zambians, they must be designed taking into account the needs, wants and aspirations of the customer, including low-income and rural Zambians. At UNCDF, we believe that by adopting a human centric design (HCD) approach which elevates the customer to the “king/queen” status, we can promote increased financial inclusion for all Zambians.” said Ms. Uloma Ogba, UNCDF Zambia Knowledge Management Specialist.

“We want to see a significant increase in the uptake of digital financial services in the country, stated Airtel Zambia Sales Manager, Alfred Phiri. With the support of UNCDF, Airtel Mobile Money has conducted product tests to address issues such as liquidity management and is taking steps to implement the results of these tests in their operations. Other corporations in financial services performed similar tests and research where the prevalent finding was that the process of understanding the customer was often neglected.

To resolve the need for broader access to financial services, UNCDF has invested in initiatives such as the MM4P to not only promote financial inclusion but also bring human-centered design to DFS to improve the customer’s experience and the provider’s ability to provide services according the needs and wants of the consumer.

[Read 99 times, 1 reads today]
- Advertisement -

Latest News

WEEKEND SCORECARD: Chipolopolo CHAN Group D Schedule in Full

Chipolopolo's full Group D fixture list at the 2020 CAF African Nations Championship (CHAN) tournament in Cameroon has been...

TIZ Welcomes Summoning of Health Minister by Anti-Corruption Commission on Corruption allegations

Transparency International Zambia has welcomed investigations by the Anti-Corruption Commission of the Minister of Health Dr. Chitalu Chilufya. TIZ President Reuben Lifuka says there...

Increase Taxes Applicable to Tobacco and Nicotine Products-CTPD

The Centre for Trade Policy and Development has called on Government through relevant agencies to conduct a review of the current tobacco taxation framework...

Lusambo insists gassing is politically motivated

Lusaka Province Minister Bowman Lusambo has reiterated that the gassing incidents currently happening in Zambia are politically motivated meant to dent the image of...

Euro bond payment of $750 million due soon, PMRC questions silence on Sinking Fund

The Policy Monitoring and Research Center has urged the Ministry of Finance to give regular updates to the nation on the Sinking Fund and...

More Articles In This Category

- Advertisement -
[Read 25 times, 1 reads today]