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Financial Inclusion Key, Says Mutati

…as Zamtel, Premiercredit launch PremierInvest

By MICHAEL MIYOBA

MINISTER of Science and Technology Felix Mutati has hailed Zamtel and PremierCredit for supplementing Government’s efforts to drive Zambia towards financial inclusion.

Speaking during the launch of the PremierInvest product found on the Zamtel Mobile Money Menu, Mr Mutati said financial inclusion is key and the initiative by Zamtel and Premier Credit transforms the way individual’s bank and connect with each other.

Mr Mutati said the initiative is a new frontier to financial inclusion and removes boundaries as it is deemed as a bank with no bounderies.

“Financial inclusion has been a top priority for our administration and we firmly believe that no one should be left behind in our journey towards nomic growth and development. We have been working tirelessly to create an enabling environment that promotes financial access and empowers individuals to take control, of their financial well-being,” Mr Mutati said.

He urged the banking sector to emulate Premiercredit by coming up with accessible and affordable financial solutions which will make citizens happy.

And Zamtel Acting Chief Executive Officer, Joshua Malupenga said the partnership will enable Zamtel customers have the best and quickest online based investment options.

“This partnership will drive digital investment solutions in line with global trends and ensure that Zambia does not lag behind the digital financial development trends. This is inline with our strategic direction at Zamtel to grow local digital financial solutions to local digital financial challenges that respond to the call in the 8th national Development plan for universal access to finance,” Mr. Malupenga said.

Meanwhile, Premier Credit Chief Executive Officer, Chilufya Mutale described the Premier Invest product as a peer-to-peer lending product which will enable investors earn 36 percent per annuum in interest on their investments.

Ms Mutale said the primary objective is to prioritise the needs of the customers by providing user friendly inclusive products and services.

“In order to expand the availability of financial resources to those who lack access to traditional banking services and marginalised communities, we have augmented our investment product range within the Zamtel Mobile Money platform. This initiative aims to cater to a broad spectrum of individuals, including marketeers, traders and the general mass market,” Ms Mutale said.

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