USD 1 Million Deal Improves Access To Zambia Mobile Financial Services

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The World Bank’s International Finance Corporation (IFC) and Airtel Zambia have announced a USD 1 million agreement that seeks to increase access to Zambia’s mobile financial services over the next three years.

According to the recently released statement, the aim of the partnership is to provide Airtel Zambia with the assistance required to in build a sustainable mobile money operation in the country with market research and advisory services on agent network management and business development strategies coming from the IFC.

“A key focus area for Airtel Money is to support the government’s mandate to enhance financial inclusion and to reach out to the un-banked population who may still have fears of mainstream banking or believe the services are too costly,” said Brenda Thole, Airtel Money Director Zambia, in a recent report by Gadgets.

The newly signed deal represents a portion a USD 34.7 million joint initiative between the IFC and The MasterCard Foundation that is in line with their Partnership for Financial Inclusion which aims to boost microfinance and improve the overall mobile financial service in sub-Saharan Africa.