Airtel Zambia is leading MTN Zambia by 300,000 mobile money customers as competition between mobile operators for a share of the growing mobile money services space increases.

Airtel corporate communications manager Yuyo Kambikambi said the company's mobile money customer base now stands at 1.3 million.

"Mobile money is a key catalyst that is helping accelerate financial inclusion in Zambia," she said.

MTN Zambia said it has one million active subscribers on its mobile money platform.

Ruth Chuunka, MTN Zambia acting head of mobile money said the company has built more than 3,000 booths and has 12, 000 active agents countrywide.

She added that the Bank of Zambia's drive for financial literacy and inclusion has been instrumental in the company's success with mobile money and national rollout.

"With MTN mobile money's milestone of 1 million active subscribers, the company is confident that it has adapted to the changing social and economic landscape in Zambia to ensure that it provides financial solutions that give the Zambian population confidence in the financial sector," said Chuunka.

The increase in the use of mobile money in Zambia is fuelled by greater availability and use of mobile phones, in rural and urban areas.

Statistics released by the Bank of Zambia shows that only 40% of Zambians are banked. The central finance authority says operators will continue to focus their efforts on reaching rural communities in order to grow their customer base and bolster their balance sheet.