Business booms on Zamtel Kwacha platform

ABOUT 250, 000 Zamtel subscribers have transacted on the Zamtel Kwacha platform since the product was launched on the mobile money platform in July this year, corporate communications manager Kennedy Mambwe has said. Mr. Mambwe also disclosed that the Bank of Zambia has allowed the mobile network service provider to migrate the entire base of Zamtel subscribers to be able to access Zamtel Kwacha as long as they have undergone sim card registration.

Mr Mambwe, in an interview with the Daily Nation, remained optimistic that the number of subscribers will increase as the company increases services on the platform.

“Currently, Zamtel Kwacha has 250,000 plus subscribers actively using the service, and as Zamtel we are confident that as we continue to upgrade the services on the Zamtel Kwacha more people will be able to take up the facility and the numbers will begin to increase,” Mr. Mambwe said.

He explained that through the introduction of the mobile money service Zamtel was participating in the promotion of financial inclusion, adding that there was need for Zambians to embrace a cash light economy which promotes security.

Mr. Mambwe stated that they had positioned themselves to be major players in supporting financial inclusion, adding that while the company was rolling out the network in all the provinces they were also rolling out the Zamtel Kwacha product.

He noted that inclusiveness of banking is part of the Zambian agenda in promoting financial inclusion

In July this year Zamtel launched an electronic payment solution called Zamtel Kwacha which it said will revolutionise mobile banking in Zambia.