by Mwatula Chiti
The Bankers Association of Zambia (BAZ) says the growth of Mobile Money Operators in the country is not a threat to Banking institutions.
BAZ President Leonard Mwanza says Banks regard mobile money operators as equal partners in improving the welfare of people.
Mr. Mwanza said digital financial services have created convenience and has eased the way of doing business in different parts of the country.
He stated that the establishment of mobile money operators has brought about financial inclusion to all the players in the financial industry.
Mr. Mwanza said the mobile money operators have enhanced efficiency, convenience, reliability and safety in the Zambian National Payment Systems.
He said the industry has made major strides in ensuring an efficient payment instrument.
Mr. Mwanza further said the Bank of Zambia has been working with various stakeholders to promote safety and efficiency in the provision of mobile financial services in Zambia.
He noted that developments in both financial services and Information Communications Technology (ICT) provide an enormous opportunity for enhancing financial inclusion in a country like Zambia.
Mr. Mwanza added that mobile financial services offer the promise of reducing the cost of delivering financial services and improving access to financial services to a majority of Zambians.
Keep consoling your selves. Meanwhile I can’t remember when I last visted my bank( oh, my former bank)
Keep consoling yourselves; nothing wrong with that. Meanwhile I can’t rememember when i last visited my bank
@ Matador Thats right, let them keep consoling yourselves; indeed nothing wrong with that. Meanwhile I also can’t remember when i last visited my bank.
With your abnormal interests ba mwanza you still claim banks have business. I doubt. Yes keep consoling yourselves until you drown. I only go to the bank for change at my shop.
So all of you above dont know that all mobile money companies maintain bank accounts? Infact mobile money increases bank deposits as airtel money or MTN money mops up deposits from far rural areas and deposit them in a Bank.
people use mobile money just to send and receive money. Mwanza know what he is talking about
The real threat to banks are those kaloba companies like bayport
At least you’re the only one who understands what is at play here
In fact, the mobile money service providers are stealing from the people. How is that done? You deposit your money for maybe a month, no interest is given. When you withdraw a fee is charged, At least banks give some interests. Mr is not self-consoling, rather he is telling us that the banks also benefit from such an arrangement.
You are dead wrong! By the time you woke up it will already be evening. The cheese is moving and moving very fast.