Kulusu Chisola on Financial Inclusion, Innovation and Zambia’s Digital Future

So now we move to technology and, uh, financial inclusion.

How is technology changing the way customers access and experience financial services?

Well, I think the biggest change that technology has brought is, um, convenience, accessibility.

Um, I think we are becoming more a 24/7, uh, economy.

I think the government even wants that, right?

Yeah.

So part of the enablers of a 24/7 economy, when you look at it at structural level, uh, you, you talk about hard things.

What are the hard things? You need to have street lighting, you need to have security, you need to have shops open.

But beyond that also, you also need the finer things.

What are those? You need systems to work.

You need technology to be up and running because that then, uh, creates access beyond just walking to a shop.

Right? Uh, in your own home, in your own bed, you should be able to transact, you should be able to move money around.

So I think in that sense, technology is doing a lot in creating that path towards increased accessibility, and with that, it then means, uh, the economy is more connected and business can carry on regardless of what time of the day, um, uh, that is.

So I think that's the biggest thing, uh, really that technology gives.

It gives access.

And, and then beyond that also, you have to look at it in the context of, um, what it does for those areas which are very far, uh, far-reaching, inaccessible areas where infrastructure might be low.

Again, in those areas, technology is key in bridging that gap.

And then, uh, when you look at it also on a global level, that's access to markets, right? Um, people can transact with people who are sitting in China because of technology.

So I think those are some of the core enablers that the, the technology part bridges, uh, for everybody.

Having addressed, um, the issue of accessibility and, um, the bridging the gap-

Mm

... um, how do you think the barrier being, um, created with the underserved areas, how, uh, is that being addressed?

Yeah, I mean, like I said, um, first of all, if you look at, uh, the trust even by, by the government again, um, in introducing, for example, towers, uh, countrywide, I think they've been very intentional around broadening that.

Um, you see that as well in terms of the MNOs, uh, bridging that gap.

What are they trying to do? Just build the infrastructure that's going to support the ability to, to communicate and by extension to then do business and to financially include.