Ecobank mobile products launched

THE Government has said it will continue ensuring that there is an enabling business environment in Zambia by introducing business-friendly policies and discard negative ones.

Speaking at the launch of Ecobank mobile products which were being implemented in partnership with Airtel Zambia, Commerce, Trade and Industry Permanent Secretary Stephen Mwansa said the partnership would create a link between access to communication and finance.

Mr Mwansa said the Government was happy the two unrelated fields were coming together to provide such innovative products and services that were aimed at enhancing the lives of the people in Zambia.

“There seems to be no link between banking and telecommunication, but we know that when you put them together you are addressing twofold need, that is access to finance and communication,” he said.

He said it was the belief of the Government that Ecobank mobile money would indeed provide the much-needed convenience and further simplify banking process.

Airtel managing director Fayaz King said the service would give customers the freedom to manage their bank accounts from their phones thus providing faster banking services.

“More than K500 million worthy of Airtel money transactions are carried out on the daily basis and the number continues to grow.

“Available statistics indicate that only 17 per cent of adult population has bank accounts and fewer have debit cards, but close to 43 per cent of Zambians have mobile phones thus making it relevant,” he said.

Ecobank Zambia managing director Charity Lumpa said the launch of Ecobank mobile was bringing the product to full maturity by enabling customers across all the distribution networks to effect transfers from the e-wallet to their bank accounts.

Ms Lumpa said the clients would be able to check bank balance, mini-statements as well as transfer their funds from mobile wallets to the Ecobank accounts.

“With Ecobank Mobile customers will be able to conduct various transactions like receiving money and sending money which can be convertible to cash over our counters,” she said.

She said through Ecobank mobile the bank was bringing its services closer to the mobile phones with full transaction functionalities. / times of zambia


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