On Tuesday October 16, 2018, UNCDF will host the first edition of the Digital Coffee Sessions bringing together digital financial services (DFS) professionals in Zambia. This initiative aims to highlight and analyze the challenges impeding the advancement of the DFS ecosystem in Zambia as well as potential solutions that could help address these challenges.
With the theme of Digitizing Financial Services: Lessons from Theory to Practice, the first Digital Coffee Session will convene up to 50 DFS professionals working in the public and private sector in Zambia to discuss pertinent issues affecting the expansion of DFS.
These issues include high customer dormancy, agent inactivity, evolving policies and regulations around DFS and innovation.
These are some of the topics that are core to realizing the objectives of the National Financial Inclusion Strategy, launched by the Ministry of Finance in November 2017.
“Through our work, and in collaboration with other stakeholders in the DFS ecosystem , UNCDF seeks to build the DFS capacity of local professionals to ensure that knowledge on best practices are disseminated properly and that these professionals have access to the right tools needed to operationalize their learning to further enhance the growth of digital financial inclusion in Zambia” says Zerubabel Junior Kwebiiha, DFS Expert, UNCDF Zambia.
In less than five years, DFS in Zambia has undergone a dramatic transformation. The market has moved from having 2% of adults with active DFS accounts and 2,730 agents nationwide in 2014 to having 24% of adults with active DFS accounts and 22,946 agents in 2017. To meet the growing demand for DFS, there is a need for more trained professionals in Zambia with the skills and knowledge required to build and enhance the DFS ecosystem in the country, as well as other digital ecosystems that are emerging.