On the 14^th of November 2017, UNCDF launched the maiden edition of the Zambian Digital Chikwama Awards. Created by UNCDF and open to all digital financial services (DFS) providers in Zambia, the awards aimed to recognize and celebrate the efforts of the individuals and organizations that have contributed significantly to advancing digital finance in Zambia.

A short background on the Digital Chikwama Awards

One of the great values that digital financial services can have for a person is giving them access to a safe place to save and transact, or a digital wallet. “Chikwama” is the local Zambian (Nyanja) word for “wallet/purse”, hence the inspiration for the Digital Chikwama Awards.

2016 and 2017 have been periods of significant growth and innovation in the DFS market in Zambia with several providers introducing and refining their digital wallet products, as well as other DFS products and services.

The objective of the Digital Chikwama Awards is to recognize the increased growth of digital financial inclusion and the efforts of those individuals and organizations that have contributed significantly to improving digital financial inclusion for Zambians.

Celebrating Achievement and Innovation in DFS in Zambia

The inaugural Digital Chikwama Awards took place on the 14^th of November 2017 in Lusaka (Zambia’s capital city). Nominations were based on data collected from the 16 DFS providers in Zambia by UNCDF MM4P. Where possible, the data was validated by Bank of Zambia. An independent panel examined the data and nominations received and helped choose the winners. Categories in this year’s Digital Chikwama Awards included.

Most Outstanding DFS Performance Award:

Nominees in this category demonstrated the highest active customer growth rate in the market during 2016. It takes significant efforts in terms of innovation, marketing, customer education to attract and retain active DFS customers. This award recognizes the providers whose efforts have been the most effective. The 2017 Digital Chikwama Award for ‘Most Outstanding Digital Financial Services Performance’ was won by MTN Mobile Money.

Most Innovative DFS Provider Award:

This Award was presented to the DFS provider who was judged to have exhibited creativity and innovation in the design and implementation of their products and services. The focus was on rewarding innovation in 2^nd generation DFS products that have achieved the highest number of active customers. These products will also be evaluated in terms of uniqueness and relevance to the Zambian market as well as the design approach adopted e.g. a human- centered design approach.

The 2017 Digital Chikwama Award for ‘Most Innovative Digital Financial Services Provider’ was won by First National Bank Zambia.

Agent Value Chain Development Award:

This Award was presented to the DFS provider who was judged to have dedicated significant amount of resources to the training and development of their agent networks and fostering agent value chain growth. The performance of the provider’s agent network was assessed in terms of: active agent growth rate, average number of transactions conducted by agents per month and monthly commissions earned by agents.

The 2017 Digital Chikwama Award for ‘Agent Value Chain Development’ was won by Zoona Zambia.

DFS Private Sector Champion Award:

This Award was presented to a DFS professional from the private sector that contributed significantly to moving DFS forward within their organization and within the DFS Ecosystem. This nomination was made by each the DFS providers for one individual that contributed significantly to the organization by achieving their KPIs in the last year, which include but not limited to;

Leading innovative methods to increase a customer awareness, registration and usage.

Leading the expansion of and support to improve agent networks.

Leading product development and promotion of new products that use human centric design approaches.

Demonstrated leadership in creating and implementing a partnership with another Zambian DFS ecosystem stakeholder.

The 2017 Digital Chikwama Award for ‘Digital Financial Services Private Sector Champion’ was won by Mr. Robert Keating (Zoona Zambia).

The awards gala hosted key players in the Zambian DFS market including mobile network operators (MNOs), banks, micro-finance institutions, third-party providers, various donor organizations, as well as UNCDF MM4P’s partners and stakeholders.

During a rapturous award show that kept everyone on the edge of their seats Nandini Harihareswara, UNCDF Regional Technical Specialist said:

“Every single nominee is a winner tonight. UNCDF Zambia will continue to partner with the Zambian DFS ecosystem to test innovative models that increase customer uptake, address the issues of agent profitability and agent liquidity. We will also be on the lookout for new products, second generation products, that address customer needs, wants and aspirations. We’ll know that by how many sign up and how many actively use the products. We look forward to an exciting and eventful 2018 for Zambians!”

After the awards show the excitement among Zambian DFS providers and other stakeholders was palatable, with many indicating their ongoing commitment to DFS and anticipation of the 2018 Digital Chikwama Awards.

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