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THE increase in the use of technology is an opportunity to drive the financial inclusion agenda, says Access Bank Zambia managing director Joana Bannerman.

Ms Bannerman said this at the launch of a Mobile Banking Integration with MTN Mobile Money in Lusaka on Wednesday.

She said Access partnership with MTN Mobile Money would

By BUUMBA CHIMBULU

enable bank customers and mobile money subscribers to transfer funds between their mobile Money Wallet and Access Bank accounts.

“This service allows Access Bank Zambia customers to transfer money from a bank account to an MTN Mobile wallet and vice versa,” Ms Bannerman said

Ms Bannerman said this was a significant step to improve the quality of service as well as enhancing financial inclusion in

THE Kwacha has appreciated slightly against the dollar helped by inflows from corporates looking to meet their mid-month taxes amid subdued Energy importer demand in the local market.

This is according to Barclays Bank Zambia daily market update.

At 08:30 hours, the bank said, commercial banks quoted the local unit at K11.96/12.01 per dollar, compared with K11.95/12.00 at Tuesday’s close.

“USD/ZMW currency pair closed at K11.93/11.98 on the back of corporate supply and is likely post more gains in the near term as dollar sellers take advantage of the rates,” the bank said.

On the money market, market liquidity was up K14 million in Wednesday’s trading session from K462 million posted on Tuesday to K476 million.

The average interbank overnight rate increased

Customers, could register for the service to transfer money, buy airtime, check account balances, pay bills, transfer funds between their accounts and the third party banks.

Additionally, customers would be able to transfer their money to MTN Mobile Money accounts.

“Digital Banking is gradually changing the behavioural patterns of the ordinary consumer and the increase we see in the use of technology is an opportunity to us to drive the financial inclusion agenda,” Ms bannerman said.

MTN Zambia General Manager - mobile financial services, Edmund Barwuah, said the service would enable people make necessary transactions from the comfort of their homes.

Mr Barwuah said the integration would enable people pay their children's school fees without any difficulties. by one base points to close at 9.93 percent.

“On the fixed income, the market remained unchanged from the previous session. The government will be in the market today to auction the shorter end of the curve. We expect the auction to clear lower than previous levels,” said the bank.

And Cavmont bank Zambia indicated that the Kwacha breached the $/K12.00 psychological barrier following increased demand on the interbank.

The local unit touched an intra-day low of K12.00/ K12.05. However by noon, the local unit made a retreat and was being quoted at K11.94 / K11.99.

“In other emerging markets the South African. Rand (ZAR) lost further ground against the U.S dollar as it touched an intra-day low of $/ ZAR13.8900 from its opening levels of $1/ ZAR13.7700.

“The ZAR has recently come under pressure following an escalation of power cuts in South

He said the service would allow customers to access loans, enable them to pay bills of any kind such as Dstv and water bills.