The Bankers Association of Zambia –BAZ- Chief Executive Officer Leonard Mwanza has emphasized the urgent need for the government to implement critical measures aimed at transitioning Zambia into a 24-hour digital economy.
In an interview with Phoenix News, Mr Mwanza has underlined that well-designed strategies could significantly foster economic growth, enhance financial inclusion, and bolster key sectors such as agriculture and energy.
Mr Mwanza has also stressed the importance of supporting Small and Medium Enterprises –SMEs-through targeted initiatives, such as the Zambia Credit Guarantee Scheme.
He has identified expanding financial inclusion and improving digital infrastructure as crucial enablers for economic transformation as well as investing in reliable high-speed internet and mobile networks across urban and rural areas will support online transactions and digital services.
Mr Mwanza explains that encouraging the adoption of electronic payment systems among businesses and consumers can streamline transactions and reduce reliance on cash coupled with developing a regulatory framework that supports digital platforms.
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