Zambia's plans to expand its digital infrastructure received a significant financial boost after receiving a grant of US$120 million from the World Bank.
The funding has been recognised as a significant step towards meeting the country's national development objectives under the Science, Technology, and Innovation Policy and Vision 2030.
Zambia's Minister of Technology and Science, Felix Mutati, revealed the funding during the Lusaka launch of the ABSA Mobi Tap app, a new mobile payment solution.
Minister Mutati also revealed, in a statement delivered on his behalf by Ministry Human Resource Director George Matulula, an ambitious goal to expand 4G and 5G network coverage to 90% of the population by the end of the year.
Turning to Absa's new payment solution, the minister underlined the importance of the new ABSA Mobi Tap app, describing it as a "powerful tool" for promoting financial inclusion.
The solution is expected to assist small and medium-sized businesses (SMEs), women, youth, and rural areas the most by revolutionising digital payment processing.
ABSA's managing director, Mizinga Melu, said the app is intended to assist Zambian businesses, particularly SMEs, in adopting digital payments.
ABSA Mobi Tap allows beneficiaries to accept contactless card payments using their Near Field Communication-enabled cellphones without the need for additional hardware. The service requires a device running Android 11 or higher.
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