Over 11 million Zambians currently conduct their everyday business and transactions utilizing mobile money.
According to HANFORD CHAABA, Corporate Communications Manager at the Zambia Information and Communication Technology Authority (ZICTA), 11 102 million individuals would be utilizing mobile money by the end of 2022, a 13 percent increase from 9 108 million in 2021.
According to Mr. CHAABA, who spoke to ZNBC News, even the amount of money moved by mobile money jumped from 169 billion Kwacha in 2021 to 295 billion Kwacha in 2016.
According to the Information and Communication Technologies Sector’s 2022 ZICTA Annual Market Performance Report, this is the case.
The survey also reveals that by the end of 2022, there were 19 million fewer active mobile cellular subscriptions than there were in 2021 (20 million to be exact).
The substantial number of sim cards that were deactivated in an effort to stop the rise in fraudulent activities carried out on mobile cellular platforms is blamed for the 2 percent fall.