Minister of Technology and Science, Felix Mutati says Zambia is on the right track with attaining financial inclusion. Mr Mutati has since called upon businesses to take advantage of fully digitizing payment processes to take part in the shift to cashless transactions.
He says digital payments can deliver significant uplift to business profitability and growth.
Mr Mutati was speaking in a speech read for him by Ministry of Technology and Science, Acting Permanent Secretary, Chikatizyo Musonda at the signing of a Memorandum of Understanding between Cellulant and the Lusaka Chamber of Commerce to offer digital payment services to member businesses using the Tingg platform.
The Minister acknowledged that businesses are increasingly recognizing that the importance of adopting digital technologies to reduce the administrative burden on their business.
“Businesses have recognized that paper-based payments and manual processes increase their administrative costs, cause inconvenience to their customers and suppliers, and they risk losing essential records. By contrast, digital payments can deliver a significant uplift to businesses profitability and growth,” Mr Mutati said.
And Lusaka Chamber of Commerce and Industry, President Alexander Lawrence said the collaboration will contribute towards the institution’s goal of making Lusaka a regional trade and investment hub.
Mr Lawrence said to be a hub, the digital infrastructure has to be in place. He said the partnership will be of great mutual benefit to both parties.
“These partnerships can expand your customer base, brand awareness, overall reach and service functionality. These are mutually beneficial partnerships that can help both startups and established businesses,” Mr Lawrence said.
And Cellulant Zambia, Country Manager Gilbert Lungu said the firm made the most of an opportunity to partner with the Chamber which has 3, 000 members in various sectors.
Mr Lungu emphasized the business benefits that come with digital methods of transacting.
“This is the new age of doing things. Harnessing the power of digital ties will only make doing business simple because the hassle of payments is removed,” Mr Lungu said.