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Utilise digital platforms – Mvunga

THE Bank of Zambia (BoZ) has warned that the usage of cash can be hazardous during the current Covid-19 pandemic period.

The central bank has therefore encouraged the use of electronic transactions during business transactions.
BoZ Governor, Christopher Mvunga, said the central bank was mindful of the risks involved in conducting cash transactions during the Covid-19 period.
Mr Mvunga said this yesterday in Lusaka when he officiated at the opening of the Absa Bank Zambia East Park Mall Branch.
“I think one of the things we are mindful is that cash can be hazardous to Covid-19. So please try and use electronic transactions,” he said.
Mr Mvunga said BoZ welcomed Absa Bank Zambia’s dedication to consistently providing financial services to customers while adhering to the Covid-19 health guidelines.
He pointed out that since the launch of the Absa brand on the Zambian market in February this year, the institution had shown commitment to continue opening new doors to clients in the midst of Covid-19.
He urged Absa Bank Zambia to continue being innovative and providing customers with global banking products and solutions that met their evolving financial needs.
Absa Bank Zambia Managing Director, Mizinga Melu, said K4.5 million was spent on the newly opened East Park Mall Branch.
Ms Melu said Absa has spent K120 million on upgrading its branches
Absa, she said, had enhanced digital platforms with 86 percent of the transactions conducted on the platforms.
“We have partnered with all mobile service providers to make payments. This promotes payment. This has been done to ensure that we become a payment bank,” she said.
Absa Retail Banking Director, Harton Maliki, said all branches across the country were currently digitally led.
Mr Maliki said Absa Bank had eliminated all container branches and upgraded them to brick and motor.

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