Airtel and ZICB Combine Efforts to Enhance Digital Network for Small-Medium Enterprises in Zambia
In a significant move towards digital transformation, Airtel Networks Zambia plc and Zambia Industrial Commercial Bank (ZICB) have joined forces to improve internet connectivity for small and medium enterprises (SMEs) in Zambia.
The partnership, announced in February 2024, aims to equip SMEs with advanced 4G and 5G Internet devices, courtesy of Airtel. To benefit from this offer, customers must commit to monthly data bundles and register for the bank's online banking service.
This collaboration 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. By focusing on the needs of SMEs, this initiative has the potential to drive economic growth and innovation across various sectors in Zambia.
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.
The partnership will offer free advanced 4G and 5G Internet service devices (routers) from Airtel to ZICB's SME clients. These devices are intended to enhance operational efficiency, open up new market opportunities, and improve overall competitiveness for SMEs.
In addition, the partnership aims to empower businesses by making it easier for them to perform online invoicing and maintain accurate transaction records. Lindiwe Banda, Airtel Business Director, explained the practical benefits of the Airtel-ZICB partnership for SMEs, enabling easy access to Internet banking services from business premises or homes.
As Zambia invests in its digital infrastructure and fosters partnerships between telecommunications providers and financial institutions, it is positioning itself as a growing hub for digital innovation in Africa. The country's internet penetration rate is projected to rise from 31.2 percent in early 2024 to 43.44 percent by year-end, a testament to the success of such initiatives.
Moreover, the government's ambitious project to construct 520 communication towers is aimed at achieving 96 percent phone and internet coverage by the end of 2025 or early 2026. This project, when combined with the Airtel-ZICB partnership, will further boost Zambia's digital landscape, fostering a conducive environment for businesses to thrive.
In conclusion, the Airtel-ZICB partnership is a significant step forward in Zambia's digital transformation journey. It underscores the potential of public-private partnerships to drive economic growth and digital innovation, ultimately contributing to the country's development goals.
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