The proportion of Zambian adults with access to formal financial services reached 80.1% in 2025, according to the latest FinScope survey, a rise attributed primarily to the expansion of mobile money platforms. The survey, conducted by FinMark Trust, indicates that mobile money is now the most widely used financial service in the country, surpassing traditional banking channels and driving significant gains in financial inclusion over recent years.
This growth reflects a broader trend across Africa, where mobile money has become a cornerstone of financial ecosystems, particularly in markets with high mobile phone penetration but lower traditional bank branch density. The integration of these digital wallets with other financial services is seen as a key next step for deepening inclusion. In a related development in West Africa, savings and loans company Izwe S&L is preparing to launch a digital float product specifically for mobile money agents in Ghana, according to a report from The Business & Financial Times.
The Izwe product, named 'Izwe Float', is designed to allow agents to access liquidity instantly through a digital platform, eliminating the need to physically visit a bank or an Izwe branch to obtain cash float for their operations. The company's chief executive, Nana Esi Idun-Arkhurst, stated that the product aims to solve a critical pain point for agents, who often lose business hours and incur transport costs when securing float. "The launch of Izwe Float is a direct response to the challenges mobile money agents face in accessing liquidity efficiently," Idun-Arkhurst was quoted as saying.
Such innovations aimed at strengthening the agent network are considered vital for sustaining the growth of mobile money services, as agents form the physical interface for cash-in and cash-out transactions in many communities. A robust and liquid agent network directly supports higher transaction volumes and greater user trust in the system. Meanwhile, in East Africa, efforts are underway to create greater interoperability between different financial platforms. In Burundi, a new platform called 'BurundiPay' has been launched to connect banks, microfinance institutions, and mobile money networks, facilitating seamless transactions across previously siloed systems.
The BurundiPay initiative, highlighted by the Burundi Times, seeks to reduce friction in the national payments landscape and mirrors similar interoperability projects seen in other African nations. While these developments in Ghana and Burundi are separate from the Zambian survey results, they illustrate the continent-wide focus on maturing digital financial infrastructure. For Zambia, the challenge now shifts from achieving broad access to ensuring that the newly included population can use a wider range of affordable and relevant financial products, from savings and credit to insurance, through the digital channels they have adopted.