The government says it is working hard to create conditions that will spur a digital revolution in the country and transform the economy into a cashless one.
Minister of Science and Technology, Felix Mutati said that the new dawn administration is devising ways of creating a conducive and enabling environment that will support and enhance the growth of digital and financial inclusion.
“We as government are working very hard in partnership with the private sector and other players, particularly the financial and banking sector to ensure that this ultimate goal is actually delivered…”said Mr Mutati.
Mr Mutati pointed out that there are tremendous benefits that can accrue from having digital and financial inclusion in the country.
The minister stressed that digital and financial inclusion is cardinal for rebooting the economy and creating desired jobs in the country.
Mr Mutati said this during the graduation of 247 students from the Zambia Institute of Banking and Financial Services in Lusaka under the theme “financial education in a digital economy”.
The minister however regretted that there is no adequate digital infrastructure available to support the development and progression of digital and financial inclusion in the country.
Mr Mutati noted that financial inclusion in Zambia is below 70 percent, which is much lower than the global rate.
He acknowledged that available digital skills are not adequate to aid the growth of digital and financial inclusion.
The minister said financial education is a key driver for digital and financial inclusion which must be promoted if the country is to benefit from a digital economy.
Mr Mutati praised the institute for deploying technology as a mechanism to deliver undisrupted provision of education to Zambians.
He said the institute’s efforts of continued provision of quality training demonstrates its immense contribution to the development of the financial sector and support towards the national agenda of financial education.
The minister challenged the graduates to be innovative and apply their skills to enhance the digital and financial sector and provide solutions to challenges government is facing in the sector.
Speaking at the same function, President of the Zambia Institute of Banking and Financial Services, Moses Shuko said the institute will continue to work with government in the development of quality human resource for the banking and financial sector.
He said the institute will continue to enhance provision of digital education and will soon establish a secure e-learning platform to facilitate online examinations.
Mr Shuko said the banking and financial sector in the country is in need of qualified personnel to push and sustain the country’s economic development through the growth of the digital and financial sector.
He said there is need for the private sector and government to embrace digital innovations and applications in service delivery as opposed to use and reliance on traditional banking.
And giving a vote of thanks, Michel George said there is need for continued acquisition of knowledge in the banking and financial sector if society is to benefit from continuous digital and technological advancements.