Zambia Consumer Insights and Opportunities in Digital Financial Services

  • February 16, 2016

  • Lusaka, Zambia

Lusaka and Kitwe were the focus of an in-depth consumer exploration initiative that sought to better understand pathways toward and opportunities for greater financial inclusion.

Mobile Money for the Poor (MM4P), in partnership with The MasterCard Foundation and Financial Sector Deepening Zambia (FSDZ), commissioned InterMedia to conduct primary qualitative research to complement the nationally representative findings of FinScope Zambia 2015.

At the centre of the MM4P ecosystem approach to increasing financial inclusion is the customer: the consumer of digital financial services (DFS), the unregistered user of DFS, the prospective user of DFS and particularly the female user of DFS.

InterMedia conducted focus-group discussions, in-depth interviews and ‘mystery shop’ exercises with a strategic learning agenda designed to clarify the following:

  1. What we need to know or do to help consumers be financially stable, responsible and productive
  2. How our market offerings appeal to the relevant needs and desires of consumers
  3. How the knowledge gained can help inform smart strategy for DFS in the marketplace

One of the most notable findings of the research was the genuine desire of Zambians to use financial services, based on the belief they would be better off with a digital formal account than an informal one. A remarkable 86 percent report being ready to learn a new technology to make that a reality in their lives. The vast unleveraged potential for DFS in the Zambian market cannot be overestimated. These findings will be disseminated and actioned through a series of stakeholder meetings, events and roundtable discussions under the theme ‘Know and Love Your Customer,’ starting 16 February 2016 at Hotel InterContinental in Lusaka.

About MM4P

The United Nations Capital Development Fund’s Mobile Money for the Poor (MM4P) programme is active in Benin, Senegal and Zambia, in partnership with The MasterCard Foundation. MM4P provides support to branchless and mobile financial services in a select group of Least Developed Countries (LDCs) to demonstrate how the correct mix of financial, technical and policy support can build a robust branchless and mobile financial services ecosystem that reaches low income people in LDCs.


The United Nations Capital Development Fund (UNCDF) is the UN’s capital investment agency for the world’s 48 Least Developed Countries (LDCs). UNCDF uses its capital mandate to help LDCs pursue inclusive growth.

About FSDZ

Financial Sector Deepening Zambia (FSDZ) is a DFID-funded programme established in September 2013 with the mandate to increase financial inclusion. FSDZ partners with financial service providers and other stakeholders with the shared commitment to increase the number of households and enterprises accessing financial services.