Third Zambia Mobile Operator Launches Mobile Money

MTN-Zambia-mobile-banking

Zamtel Chief Executive Officer Mupanga Mwanakatwe has announced that the company would soon launch a mobile money service after the approval of a licence by the Bank of Zambia (BOZ).

Airtel Zambia and MTN Zambia currently are the two mobile operators providing mobile payment services in the country.

According to Zamtel CEO, the service should be made available by the end of the year. 

In an interview last week, Mr Mwanakatwe disclosed that the contract had been given to a successful bidder, adding that he was hopeful that the 1.4 million subscribers currently on the network would use the service once it is launched as it is more efficient and secure.

According to the Bank of Zambia, in May 2014, Zambia had 3,400 registered mobile money users.