From 25 to 29 October 2021, digital finance providers, policymakers and regulators from Zambia are visiting their counterparts in Ghana to learn more about the west African country’s diverse digital economy. This visit originated from the new partnership between the Zambia Ministry of Finance, the UN India Fund, the UN Office of South-South Cooperation and the UN Capital Development Fund (UNCDF) to digitalise utilities payments for over 30,000 Zambians. For many living in semi-rural areas or under-serviced townships, digital payments for utilities are a critical intervention to improve access to digital financial services and a critical entry point for those who are not yet digitally-included.

This visit is pivotal for those providing utility services, policymakers, and regulators of payments in the Zambian market as it allows exposure to a more developed digital market with innovations that enable more people to participate in their digital and national economies. In 2017, according to a CGAP study, 37 percent of all payments made in Ghana were off a digital platform, which is attributed to good internet connectivity, mobile money agent networks, solid payment platforms and continuously improving regulation by the Bank of Ghana. This volume of activity is ahead of Zambia where 42 percent of the population are not digitally included.

The exposure visit will also enable the representatives of Zambian utility service providers, policymakers and regulators to meet with their Ghanaian counterparts, exchange knowledge, experience and resources on how industry advancements and challenges have been managed or overcome to deliver robust digital financial services that deepen financial inclusion. These types of visits are one of several methods UNCDF undertakes to facilitate knowledge exchange in order to strengthen partners’ technical knowledge and improve performance and delivery in the digital finance sector. Zambian utility service providers, policymakers and regulators such, Airtel Money, Bank of Zambia, MTN Mobile Money, Zanaco Bank, Zambia Electricity Supply Corporation (ZESCO), and various government ministries, will meet with Ghana-based mobile network operators such as MTN Mobile Money, Vodafone Cash, fintechs such as Zeepay, Nsano, utility providers such as the Ghana Water Limited, Electricity Company of Ghana, and regulators including the Bank of Ghana. During these visits, partners will exchange knowledge, share best practices and ask critical questions to learn, in very practical ways, how digital services have been effectively delivered to the people of Ghana, and what policies enabled that. There will also be opportunities to observe operations and visit merchants and customers.

Isaac Holly, UNCDF Country Lead said, “We are pleased to offer this opportunity to our partners so we can all learn from those ahead of us to better deliver digitalised utilities payments and other critical digital products to improve the lives of Zambians and enhance their participation in the digital economy. We hope to strengthen partnerships and deepen collaboration between country experts to advance digital economies in Africa.”

Ghana is the first African country to enact a Digital Financial Services Policy -an overarching policy framework that explicitly states the government’s intentions regarding digital financial services and their integration into other sectors that are critical for the country’s development. The policy is overseen by the Ministry of Finance but brings together a broad range of stakeholders including other government ministries, regulators, private sector players and customer groups.