Zambia Receives $120 Million from World Bank for Digital Infrastructure Expansion
In a significant stride towards digital commerce, the ABSA Mobi Tap app was launched in Lusaka, Zambia. The event, marked by the presence of Zambia's Minister of Technology and Science, Felix Mutati, and other notable figures, is seen as a pivotal moment in the country's transition to a digitally inclusive economy.
The ABSA Mobi Tap app, designed to enhance financial inclusion, is not directly related to the government's goal of extending 4G and 5G network coverage, nor is it a part of the government's broader Vision 2030 development agenda. However, it aligns with the government's digital expansion strategy, which aims to extend 4G and 5G network coverage to 90% of the population by the end of 2025.
Mizinga Melu, Managing Director of ABSA Bank Zambia, expressed that the app would empower businesses, particularly Small and Medium-sized Enterprises (SMEs), to integrate digital transactions into their daily operations. The Human Resource Director of Zambia's Ministry of Technology and Science, George Matulula, delivered the announcement, emphasising the potential of the ABSA Mobi Tap app to reshape the payments landscape in Zambia.
Vikas Kumar, CEO of Tigmoo, the company behind the app, underscored the app's potential, stating it could revolutionise the payments sector in Zambia. Minister Mutati described the app as a 'powerful tool' for SMEs, women, youth, and rural communities.
The launch of the ABSA Mobi Tap app occurred as part of an unspecified digital expansion strategy. The World Bank has approved a $120 million grant for strengthening Zambia's public digital infrastructure, but the app launch is not specified as a part of this grant.
The combination of World Bank support for infrastructure and private-sector innovation is expected to accelerate Zambia's transition to a digitally inclusive economy. The search results do not provide information about the person at the top of the company Tigmoo involved in the digital payment project in Zambia.
The ABSA Mobi Tap app launch is seen as a significant step in Zambia's journey towards digital commerce. As the country continues to embrace digital technology, the potential for economic growth and financial inclusion is immense.
