BoZ expresses concerned over lack of financial inclusion in rural areas

By BUUMBA CHIMBULU

THE Bank of Zambia (BoZ) has raised concern at the existing gap of how many people have formal accounts and financially included, worse off when comparing between the urban and rural population.

And Standard Chartered Bank has unveiled a modern priority centre, representing a paradigm shift in the realm of affluent banking while setting a new precedent for client centric services in Zambia.

On the unbanked, BoZ Director – Prudential Supervision, Gladys Chiwele, is of the view that there is still a lot of work to be done in driving the financial inclusion agenda to reach such a population.

Ms Chiwele recalled that statistical evidence of the National Strategy on Financial Education for Zambia, running from 2019 to 2024, suggests that there is still additional work to be done despite efforts in driving the financial inclusion programme.

This, she said, is because only 40 of adults have an account with formal financial institution.

She said this yesterday in Lusaka when officially opening the Standard Chartered Bank priority centre.

Meanwhile, she took time to commend Standard Chartered bank for investing in technology and digital banking platforms which allows clients to self-on-board.CLICK HERE TO READ MORE