Zambia’s fintech projected to hit over K200 billion transactions – Probase Founder
Economy

The Chief Executive of Zambia’s largest financial technology company, Probase Limited, has stated that the sector is forecast to process over K200 billion worth of transactions in 2022.

Roy Muyelu delivering his speech at the ICT & Fintech 2022 Festival at Pamodzi Hotel lusaka Zambia

 

The Fintech landscape in Zambia has grown tremendously over the years, and the Fintech activities range from but not limited to; digital payment platforms, mobile money, system integration, alternative finance and financial management all with the aim of aiding their clients with financial technology”, said Roy Muyelu, Founder and CEO of Probase and current Chairperson of the influential and newly established fintech body Payments Association of Zambia on 22 Sept 2022.  “Last year mobile money payments accounted for K170 billion worth of transactions and this year we are on track for K200 billion for the first time ever.

Roy, whose company has been a leader in providing digital solutions to the Zambian and regional market with products ranging from financial solutions for payments as well as bespoke software development, is encouraged by the growth the sector is witnessing.

The Probase founder is also a firm believe in access for all when it comes to information. “This will be a move which will look to democratise internet access and enable Zambians across the country to access one of the fastest and most modern internet services globally. This stands as a testament to the brilliance of the Zambian people and the digital future which we are eagerly looking forward to.

The Zambian technology destination is fast becoming one to watch. Much excitement in the sector was stirred following a social media posting on twitter by billion tech mogul Elon Musk which Roy also referred to in his speech. “On Tuesday, the richest man in the world Elon Musk tweeted a statement of intention in potentially providing Starlink services to our country. This stands as a testament to the brilliance of the Zambian people and the digital future which we are eagerly looking forward to”.

The tech boss also took the opportunity to thank the Government through the Minister of Technology Felix Mutati (who officially opened proceedings) on the role it has played in building the sector. “I would like to take this moment to thank the Government and especially the His Excellency President Mr. Hakainde Hichilema and the honourable Minister of Technology and Science, Felix Mutati for the UPND government’s commitment to their digital future.

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