Sylvia Duruson
Airtel Networks Zambia plc and Zambia Industrial Commercial Bank (ZICB) have joined forces to revolutionize digital connectivity for small and medium enterprises (SMEs) in Zambia. Through this strategic partnership, ZICB’s SME customers will gain access to cutting-edge digital services, including advanced 4G and 5G Internet devices, empowering them to thrive in the digital landscape.
The partnership, formalized through a Memorandum of Understanding (MoU), will offer free advanced 4G and 5G Internet service devices (routers) from Airtel to ZICB’s SME clients. To benefit from this offer, customers must commit to monthly data bundles and register for the bank’s online banking service.
This initiative comes at a crucial time for Zambia’s digital landscape. The country’s internet penetration rate is projected to rise from 31.2 percent in early 2024 to 43.44 percent by year-end. Supporting this digital growth, the Zambian government and private sector are working on an ambitious project to construct 520 communication towers. This infrastructure development aims to achieve 96 percent phone and internet coverage by the end of 2025 or early 2026.
Further bolstering this push for connectivity, the government announced plans in February 2024 to build 60 4G mobile towers and digital centers offering free internet services in rural areas. These efforts collectively demonstrate Zambia’s commitment to bridging the digital divide and fostering economic growth through technology.
Louis Kabula, acting chief executive officer of ZICB, emphasized the bank’s dedication to digital innovation. He highlighted ZICB’s comprehensive digital banking platform, developed through various collaborations and partnerships. This platform promotes capital management efficiency and business convenience for clients. Kabula expressed optimism about the partnership’s potential to create an environment where SMEs can thrive, innovate, and contribute meaningfully to the national economy.
Lindiwe Banda, Airtel Business Director, shed light on the practical benefits of this partnership for SMEs. She explained that the collaboration would enable easy access to Internet banking services for SMEs banking with ZICB, conveniently from their business premises or homes. Banda clarified that SMEs would receive Airtel devices at no cost, with the only requirement being a contract to activate monthly data bundles.
This arrangement is designed to empower businesses by making it easier for them to perform online invoicing and maintain accurate transaction records. The provision of reliable and high-speed internet access through Airtel devices aims to enhance operational efficiency, open up new market opportunities, and improve overall competitiveness for SMEs.
The partnership between Airtel and ZICB represents a significant step forward in Zambia’s digital transformation journey. By focusing on the needs of SMEs, which form the backbone of many economies, this initiative has the potential to drive economic growth and innovation across various sectors.
As Zambia continues to invest in its digital infrastructure and foster partnerships between telecommunications providers and financial institutions, the country is positioning itself as a growing hub for digital innovation in Africa. This collaboration between Airtel and ZICB serves as a model for how public-private partnerships can work together to create tangible benefits for businesses and contribute to national economic development goals.
