As part of our financial Inclusion series, we have a report on Zambia which is now published. This report series is part of a three country study conducted in Kenya, Malawi and Zambia in the last quarter of 2023, assessing the level of digital financial inclusion of micro, small and medium enterprises (MSMEs). The Malawi report was published on the 17 of April. This report on Zambia- An Assessment of Digital Financial Inclusion of MSMEs In Zambia gives a summative view of the level of access that MSMES in Lusaka have. In this report up to 80% of MSMES are noted to have access to a mobile money account, 29% had access to loans and only 39% have access to a bank account. Although there is progress in accessing traditional financial products and services, access to digital products and services is low with only 11% of male led enterprises and 5% of female led enterprises having access to digital payment services.
The report highlights the gendered differences that still impact access to finances with men having more access than women to traditional and digital financial products and services and the tools used to gain such access. Read more about the financial inclusion progress in Zambia by accessing it here.
You can also watch the What If Episode- A Focus on Financial Inclusion aired on SIVIO TV which discusses findings from the three country study.