• Increasing usage of digital financial services can hasten resolution of Economic recovery.
• Easy and accessible process to the support mentioned in the budgetary allocation targeting Small Medium Enterprises.
• Digital payments reduce the risk of pilferage.

Ministry of Commerce Trade and Industry says increasing usage of digital financial services can hasten resolution of Economic recovery and underpin the return to economic growth.

Ministry Permanent Secretary Chawe Chulu explained this woul contribute to Economic development and ending poverty over the longer term.

Mrs. Chulu further reiterated governments’ position on financial inclusion and support to cross border sector especially now that resources have been targeted to support the Small and Medium Enterprises.

She urged women Cross Border Traders to take advantage and apply to access the funds.

The Permanent Secretary was speaking in a speech read on her behalf by ministry Director Mrs. Bessie Chelemu during the official opening ceremony of the digital financial services for enhancing Women Cross Boarder trader’s utilization of digital financial services in Zambia.

Speaking at the same event, Southern Africa Cross Boarder Traders Association General Secretary Jacob Makambwe called for an easy and accessible process to the support mentioned in the budgetary allocation targeting Small Medium Enterprises (SME’s) apart from the Constituency development fund among others.

“What we also want to mention through government is need to look at the support that has been given for example the support that has been mentioned in budgetary allocations like SMEs that are supposed to have access to the funds,” he said.

“It might not be targeted to say ‘this is for Cross Boarder Traders’ but it must have a process that is very easy and accessible that everyone can actually have access to it other than the way we use to experience previously,” He added.

Recently Mr. Makambwe told Money FM News in an interview that the association was working on trying to enhance the Knowledge of Women in informal Cross Border trade in the utilization of digital financial services.

He stated that as the country has started developing a process on how it can transform the financial digital eco-system, it is important to take along citizens in order for them to understand and embrace the system.

Further, a Mobile Telecommunication company urged Women in Cross Border Trade to digitalize their payment systems apart from relying on Traditional Methods.

Airtel Head of Airtel Money Marketing Michelo Hamweetwa explained that Digital payment systems such as Digital Wallets reduce cash handling, risk of pilferage easy of carrying Money.

Mr. Hamweetwa noted Digital wallets are of benefits to both buyers and suppliers as they enable them conduct business transactions with Bank Grade Security.

He stated that digital payments reduce the risk of pilferage as employees receive payment through the till number into the wallet.