By Staff Writer
Government has said it projects that mobile money transactions will exceed K200 billion this year because it is aware of the role it plays in the country’s economy.
Technology and Science Minister Felix Mutati said it is for this reason that government now needs to think through on how this mass cash-flow can be used to drive liquidity even as it targets to achieve a cash-light economy.
Mr Mutati said this volume of cash circulation should also be able to drive the reduction of the cost of money and therefore, motivate investments in the economy of the country.
The Minister was speaking today when he launched Airtel Zambia’s new payment solution called Airtel Money Pay which is a Merchant Wallet specifically targeted at the informal sector to help them separate business and personal transactions with ease.
And Mr Mutati said this year, government targets to drive financial inclusion exceeding 70 percent in order to transform the economy from the bottom-up.
He said reduction of transaction cost at the level of micro and small medium enterprise and build confidence in digital payment solutions which will drive a cashless economy.