Zambia’s Digital Finance Surges as Mobile Money Transactions Top K100 Billion in March
……………….Historic milestone signals accelerated adoption of cashless platforms and strengthens fintech’s role in the national economy.
Zambia’s mobile money sector has reached an unprecedented milestone, with transactions exceeding K100 billion in March 2025 alone the highest monthly figure ever recorded, according to data released by the Bank of Zambia (BoZ).
The development marks a pivotal moment for the country’s digital financial ecosystem, reflecting the accelerated shift toward cashless, technology-driven financial services. Industry analysts attribute the surge to a combination of increased smartphone penetration, growing trust in digital platforms, and the expanding footprint of fintech solutions across urban and rural areas.
“This milestone is a clear indicator of Zambia’s digital transformation trajectory. It shows the public’s growing confidence in mobile money platforms for conducting everyday transactions,” said a fintech expert from the Zambia Information and Communications Technology Authority (ZICTA).
Mobile money has become a cornerstone of financial inclusion, especially for underbanked populations. From market vendors to SMEs and salaried professionals, users are leveraging mobile platforms for peer-to-peer transfers, utility payments, airtime purchases, merchant services, and even micro-loans.
Financial technology firms and mobile network operators have responded to the growing demand by diversifying their service offerings, enhancing user interfaces, and strengthening transaction security protocols. The sector’s growth is also being supported by government policies aimed at promoting digital finance and reducing reliance on physical cash.
Analysts forecast continued upward momentum, with projections indicating mobile money could surpass K1 trillion in cumulative transactions by the end of 2025, if the current trend holds.
As Zambia continues to position itself as a regional leader in digital finance, stakeholders anticipate heightened investment in fintech infrastructure, cross-sector digital partnerships, and broader efforts to bridge the digital divide.
April 30, 2025
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