The Bank of Zambia and the UN Capital Development Fund have released the 2019 State of the Digital Financial Services Industry Report. This report culminated from an analysis of the overall performance of 21 digital finance providers in the digital finances sector, factoring in 2019’s market trends.
APS reports were first published in 2016 and used for tracking the growth of the digital finances sector across Zambia. This report shows how financial services reach various sectors of the population through the supply side and complements FinScope Survey findings on financial inclusion rates across Zambia.
In 2019, UNCDF launched the ‘Leaving No One Behind in the Digital Era’ strategy supporting the development of an inclusive digital economy. The APS points out the market developments while identifying current barriers and challenges faced by digital financial service providers. It also sheds light on the journey of the DFS in Zambia while reflecting on its journey ahead.
BoZ and UNCDF are teaming to create a data reporting and analytics platform which automates the data collection and analysis process. This new automated system will transform how APS services are administered in the future. Providers and stakeholders will gain access to DFS data allowing improvements on the developments of strategy and decision making.