IMF INDO wants Zambia scales relaxedup electronic payment conditions for Africa

INDO Zambia Bank (IZB) has International partnered with state Mone- owned tary Fund enterprises (IMF) to has provide called elec

ZRA ready for for the tronic relaxation payment solutions. of exter- nal financial IZB Managing conditions Director, for Sub-Saharan Kowdichar Shashidhar, Africa said to

ops at new access the hard Bank currency had partnered bond with markets. other stake holders to provide Hard a platform currency where is customers money

Kazungula

that comes were able from to make a country bill paywith a ments strong all at their government convenience. and economy and that is not border

Mr Shashidar said customlikely to lose its value.

ers were now able to make IMF Division Chief Re- search payments Department, to public Malhar instiShyam tutions Nabar, such as expressed the Zambia

By Revenue BUUMBA Authority, CHIMBULU the Road concern that the conditions had been Transport extremely and Safety tight Agency for

ALL tax collecting systems

Sub-Saharan and the Africa National over Authority the

at the new Kazungula One past several Stop Pension Border months. Scheme Post Authority. (OSBP)

Mr are Nabar “Customers ready to said start can operations a also turn- make around immediately payments in conditions to after Patent the and official Comand better opening pany access Registration of the for project Sub-Saha- Agency, ran African scheduled ZESCO issuers Immigration, to take place to access Zambia this external month. Police hard and currency many more,” bond he markets said According in would a statement. to the certainly Zambia help Revenue with Mr Shashidar improving Authority also (ZRA), said the IZB outlook. all systems, processes,

had upgraded its digital plat“In procedures, terms of and people what forms aimed at encouraging the are all ready to take up the

global self-service outlook in means accessing for the

challenge at the new border

Sub-Saharan products Africa, services, esof

post. and course, the partial recovery

pecially ZRA is the with lead the border advent of that we are projecting next

agency Covid-19. at Kazungula assisted

year clearly has a beneficial

by IZB other has border upgraded agencies its impact for the outlook moin

such as Immigration,

terms bile of banking stronger app external and Indo

Ministry of Health, Ministry

demand. Net Banking which will give

of Agriculture, Ministry of

“But Mines, customers one Zambia key ability element Compulsory to order re- a ally is Standards cheque that book, the. Agency, external create Zambia standing fi- nancial Police order conditions, and instruction, Road Transport view which and have been and print Safety monthly extremely Agency. statements, tight for Sub-Saharan among The ZRA others. has Africa therefore over the past indicated Mr several Shashidhar, that months,” it will move expressed its he said during regional confidence customs a recent about command the press latest briefing. centre innovation. from Livingstone to

Kazungula.

The IMF, He explained he said, that a comhad

The new facilities are

stepped plete in upgrade with very of the wide- Indo

expected to improve trade

spread Mobile support Banking on and conces- Indo Net

facilitation procedures sional and Banking financing reduce had transit a new and time and of debt more service about user-friendly relief two to seven to layout try days with to and new conserve about features liquidity two tailored hours, says for ZRA these

to meet the economies. Corporate Communications

needs of the customers. Manager, Topsy Sikalinda.

"The upgrade will also give Mr Sikalinda explained in

the customer the ability to access banking services without physically visiting their

Mr Nabar explained respective this was branches meant thereby to avoiding countries the long redirect queues. resources to combatting the health sis and the economic an they interview are that facing. the current system IMF used Chief pontoons Economist which Director were slow of hence the Research the increased partment, dwell times Gita at the Gopinath, border. said: “overall for the region

as “As a the whole, ZRA continues our numbers on its close modernisation to what agenda we had in that so began it is in 2016, -3 percent it that for innovation and then is holistic, [-]3.1 product percent and 2021, process but should there both is be significant included. A balance should

heterogeneity within the also be done on both systems

gion.” and physical infrastructure.

Ms Gopinath observed “Recently, the ZRA

that there were countries launched its new buildings

that were commodity in Mongu and another new building Mr Shashidhar in Chinsali has been

porters that had been completed negatively and yet impacted to be not launched. by the Covid-19 pandemic but The Kazungula by the drop project in oil prices. "At “There the convenience is always of the a differ- is another huge milestone with enrolled ence support between customer, from the the countries Indo Government,” Mobile are Banking more he said. App diversified, and Mr Indo Sikalinda net seem platforms also to said have will in the better enable growth Eastern customers prospects part to of the make than country, transfers others, the which it new is include Mwami also important border local, internapost to was tional in almost mind and complete interbank that, and transfers for instance, would soon be commissioned.

as in well Sub-Saharan as transfer money Africa, to

He explained that the

their World mobile Bank money projected accounts

OSBP concept ensured that

over 20 and million anywhere," people he facilities, anytime and associated processes said enter in a statement. and extreme procedures poverty that year,” Mr permit Shashdar she goods, said. indicated humans, that cargo, the upgrade and vessels also enabled or par

There is always vehicles ents, guardians stop at one and single students

a difference point or facility and do all the

tween countries

to make school payments clearance procedures to exit within a click of that a second. are more one country and enter the

The upgrade diversified, will give the that other country or state. customers Mr Sikalinda the seem said ability the to open to have Chirundu new accounts, OSBP better between fixed deposit growth Zambia accounts prospects and Zimbabwe than was others,

and also monitor recognised their but it to is be the also first important

loans. fully to functional keep OSBP in on mind the that,

“Having this Indo mobile

African for continent. instance, in Sub-

App empowers the customer

“It haran is gratifying Africa, to state that the World

to have the bank in the palms the lead Bank consultant projected for this that role of their over hands, 20 with million just a click people

model was Zambian and the your current requests Commissioner become a re

will enter extreme pov- General ality. It of simply the Zambia gives the cus

erty this year,”

Revenue tomer 24/7 Authority secured at the access time to he their was Indo in the bank private accounts sector. and funds,” Mr Shashidhar said.