MTN Zambia says it forecasts growth of about 300% in active mobile money subscribers this year.

The operator currently has 5 million voice customers on its network, representing a potential mobile money user equivalent in volume.

MTN Zambia head of mobile money Wane Ng'ambi said "Currently, MTN has the most available end-to-end mobile banking solutions in Zambia with the largest footprint of over 3, 000 active agents countrywide."

CEO Charles Molapisi believes that the partnership with Standard Chartered Bank will help it increase the volume of mobile money subscribers from its current level of 2 million.

"The partnership with Standard Chartered Bank Zambia is a true testimony of the transformation of the banking and the reality that evolution run business. We understand the importance of keeping abreast with digital evolution and the focus to deliver superior customer experience. The Straight2Bank will provide that," Molapisi said.

He added, "We are providing a solution to the non-banked population in our quest to drive financial inclusion."

MTN Zambia and Airtel are the only mobile phone companies providing mobile money services in the Southern African country.

Airtel claims it has close to 4 million mobile money customers.