Do you think Open Finance is feasible in the Zambian context? Join us for the discussion!

Open Finance is being explored across the world as a means to facilitate the sharing of consumer data between financial service providers (FSPs) and/or third-party providers (based on consumer consent). While the promise of Open Finance and data sharing is significant in principle, in practice, the implementation of data-sharing approaches that are not fit for the local contextual realities can introduce risks.

In light of its potential benefits and risks, the Bank of Zambia (BOZ) is working in partnership with Cenfri,  Smart Africa and the Hewlett Foundation to evaluate the appropriateness of an Open Finance regime in Zambia and how it might be implemented in a way that’s context-specific and meaningful for consumers and market actors.

As part of an initiative to gain insights from across the Zambian financial ecosystem, Cenfri and the BOZ will be hosting a private-public multi-stakeholder workshop to validate existing feasibility considerations, as well as solicit additional feedback from the market on the potential implementation of open-finance. We would love to meet you there!

If you are interested in learning more about this project or in collaborating with us, please email Amina Khan.