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VOLUME OF ELECTRONIC MONEY TRANSACTIONS RECORDS K43BN INCREASE IN Q2

ZAMBIA has recorded a value increase of K43 billion in electronic money transactions in the first half of 2020 compared to K18.9 billion during the same period in 2019.

The Zambia Information and Communications Technology Authority (ZICTA) says this reflects an increase of 126 percent in the value of electronic money transactions.

The volume of electronic money transactions has also increased from 224 million in the first half of 2019 to 424 million recorded in the same period of 2020, reflecting an increase of 89 percent.

This is according to the Information and Communication Technologies (ICT) Sector 2020 Mid-Year Market Performance Report issued in Lusaka by ZICTA and made available to the Techwatch News.

The country’s telecommunications regulator says the ICT sector has also demonstrated an increase in the utilisation of services in the first half of 2020.

The report particularly highlights that the volume of internet traffic utilised increased by 94.7 percent in comparison to the first half of 2019, while the volume of domestic outgoing voice traffic also increased by 26.1 percent over the same period.

ZICTA is also elated to note that the number of active mobile network subscriptions at the end of June 2020 reached 17.9 million, reflecting a mobile penetration rate of 100.2 percent.

“This means there are as many active sim cards in the country as the size of the population. This performance is based on quantitative and qualitative insights gathered from various players in the ICT sector who include, providers of ICT services, government ministries, agencies and departments, and physical and online resources which were complemented with information generated by the ZICTA,” the report reads in part.

A total of 89 valid licences in the ICT sector were recorded by the end of June 2020, compared to 87 licences recorded during the same period in 2019.

The report adds, “During the first half of 2020, five licences were issued, while two were cancelled for UZI Zambia Limited.

In June this year, UZI Zambia formally wrote to ZICTA informing them that they will not be entering the market following the expiry of their extension.

In May 2020, Uzi requested for further extension for 120 days, which ZICTA rejected.

The report also indicates that by the end of June, this year, ZICTA had issued 32 valid licenses to operators in the postal and courier services sector compared to 25 licences reported during the same period in 2019.

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Written by Arthur Mwansa

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