FINCA was honoured to be part of the National Financial Inclusion Strategy II (NFIS 2024 – 2028) Launch, an event graced by the Hon. Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, MP. This launch marks a significant milestone in our collective journey towards fostering financial inclusion and empowerment for all Zambians.

The Zambian Government’s commitment to financial inclusion dates back to 2017, with the introduction of the first national financial inclusion strategy (2017-2022). Despite challenges posed by the COVID-19 pandemic, notable progress was achieved under this strategy. Financial inclusion, both formal and informal, increased from 59.3 percent in 2015 to 69.4 percent in 2020, as reported in the 2020 Financial Inclusion Survey.

Building upon these achievements, NFIS 2024 – 2028 represents a renewed commitment to addressing remaining challenges and gaps, such as rural-urban disparities, gender imbalances, and income disparities. The strategy sets a strategic roadmap to achieve 85 percent financial inclusion in the next five years. At its core, NFIS envisions “an inclusive and robust financial ecosystem that provides accessible, affordable, and sustainable financial products and services to all segments of the population, which help increase their resilience, improve their financial health, and build their confidence in the financial system.”

The successful implementation of NFIS relies on initiatives that create an enabling environment for financial service providers to develop innovative and customer-centric products. The Government recognizes the pivotal role of digital financial transformation in expanding financial inclusion across urban and rural areas. By embracing digital technologies, we can unlock new opportunities to serve previously underserved populations, catalysing economic growth and empowerment at all levels of society.

As we embark on this journey of financial inclusion, FINCA is committed to playing a pivotal role in realizing the vision outlined in NFIS 2024 – 2028. Through our innovative products and services, tailored to meet the diverse needs of our customers, we aim to contribute to building a more inclusive and resilient financial ecosystem in Zambia. Together with our partners and stakeholders, we will continue to work towards empowering individuals and communities, bridging gaps, and fostering prosperity for all.