Snapshot of Financial Services Sector and Accessibility in Zambia (2003 -2010)

Using data from Bank of Zambia reports, the following graphs provide some interesting insight relating to the degree of financial deepening in Zambia. Between 2009 and 2010, accessibility to, and use of mobile phone banking doubled in size and by far outperformed other technical infrastructure. This trend mimics the popularity of the varied use of mobile phones in Sub-Sahara Africa. There is still potential for growth of internet banking. The numbers point to opportunities in telecommunications development that are much needed in Zambia. ATMs and Point-of Sale (POS), perhaps owing to associated transaction fees pare in comparison to use of mobile banking and internet banking.