This, in turn, limits the contribution of financial inclusion to achieving the broader policy objectives set forth by the government of Zambia such as domestic resource mobilisation, national development, access to finance for small and medium size enterprises and, more broadly, their progress towards the sustainable development goals.
Recognizing the need to deliver of the broader potential of financial inclusion, the government of Zambia has made financial inclusion a top priority and will develop a financial inclusion strategy as part of the continuation of their financial sector development plan.
To inform this strategy, we are in the process of conducting a financial inclusion diagnostic under the global Making Access Possible (MAP) programme with Financial Sector Deepening Trust Zambia (FSDZ). This programme is a multi-country initiative to develop a robust evidence base on which to base financial inclusion and financial sector policy. The MAP programme in Zambia will work in partnership with the Bank of Zambia and Ministry of Finance to provide relevant information and appropriate recommendations on the market for financial services that can inform their strategy going forward.
MAP is unique in the financial inclusion space as it brings together a number of important data sources in Zambia, including the 2009 and 2015 FinScope Consumer Demand Side Survey, the (recently completed) Geospatial Mapping exercise, financial diaries Zambia, industry reported data from the central bank and interviews with regulators, financial service providers, and consumers throughout Zambia, to find out what their needs, concerns and challenges are in providing or using formal and informal financial services.
- Click for more information on how and why FSD Zambia is partnering for MAP
- Click to read the team's initial insights post-country visit
- Click to read more about the current state of Zambia insurance market
- Click to read the team's data dive in the MSME data in Zambia
We have shared some of our thoughts from our initial country visit and data analysis and will be sharing more on an ongoing basis, building up to the presentation of the MAP findings at the stakeholder workshop in early April. The diagnostic report will be published thereafter. If you would like to attend this event or contribute to the report please email Jeremy Gray or Christiaan Loots.
FSD Zambia is a national non-profit company providing information, innovation, and impact to increase financial inclusion. They seek to expand and deepen the financial market so all Zambians can benefit from financial services. FSD Zambia works with financial service providers, policy makers and civil society to make Zambia’s financial sector more robust, efficient and, above all, inclusive.