Telecommunications giant Airtel teams up with Zambia's ZICB to enhance digital connections for local Small and Medium Enterprises (SMEs)
In a significant stride towards Zambia's digital transformation, Airtel Networks Zambia plc and the Zambia Industrial Commercial Bank (ZICB) have joined forces to improve digital connectivity for small and medium enterprises (SMEs).
This partnership, announced in early 2024, aims to provide reliable and high-speed internet access through Airtel devices, with the intention of enhancing operational efficiency, opening up new market opportunities, and improving overall competitiveness for SMEs.
As part of the agreement, Airtel will offer its devices at no cost to SMEs, with the requirement being a contract to activate monthly data bundles. The arrangement also includes the provision of free advanced 4G and 5G Internet service devices (routers) from Airtel to ZICB's SME clients.
Louis Kabula, acting chief executive officer of ZICB, expressed optimism about the partnership's potential to create an environment where SMEs can thrive, innovate, and contribute meaningfully to the national economy. He emphasized ZICB's dedication to digital innovation and its comprehensive digital banking platform, which promotes capital management efficiency and business convenience for clients.
The partnership also supports Zambia's digital growth, as the country's internet penetration rate is projected to rise from 31.2 percent in early 2024 to 43.44 percent by year-end. This increase in digital connectivity has the potential to drive economic growth and innovation across various sectors in Zambia.
In addition to this partnership, the Zambian government and private sector are working on an ambitious project to construct 520 communication towers, aiming to achieve 96 percent phone and internet coverage by the end of 2025 or early 2026. The government also announced plans to build 60 4G mobile towers and digital centers offering free internet services in rural areas, although the exact timeline for their implementation remains unclear.
This collaboration between Airtel and ZICB 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. Lindiwe Banda, Airtel Business Director, highlighted the practical benefits of the partnership for SMEs, stating that it enables easy access to Internet banking services from business premises or homes. The arrangement also aims to empower businesses by making it easier for them to perform online invoicing and maintain accurate transaction records.
As Zambia continues to invest in its digital infrastructure and foster partnerships between telecommunications providers and financial institutions, it is positioning itself as a growing hub for digital innovation in Africa. This partnership between Airtel and ZICB is a testament to the country's commitment to digital transformation and its potential to drive economic growth and prosperity.
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