By Sharon Siame
Finance and National Planning Minister Dr. Situmbeko Musokotwane says financial services must be accessible to all, particularly rural and underserved communities.
Dr. Musokotwane noted that financial inclusion is a key pillar of economic empowerment, enabling smallholder farmers, micro and small enterprises, women, and youth to participate fully in the economy.
He acknowledged progress made in expanding access to financial services but emphasized that rural areas remain underserved.
This was contained in a speech delivered on his behalf by Ministry of Finance Accountant General Nsandi Manza during the launch of the Financial Inclusion for Resilience and Innovation Project in Lusaka today.
Dr. Musokotwane added that the project aligns with national priorities, fostering innovation and private sector participation to broaden economic opportunities.
Meanwhile, International Fund for Agricultural Development (IFAD) Country Director Edith Kirumba said the seven-year project aims to strengthen financial access and resilience for rural populations in Zambia.
Ms. Kirumba explained that the initiative will employ a blended financing structure, drawing funds from IFAD, the Zambian Government, the private sector, and development banks.
In addition, Ministry of Finance Acting Permanent Secretary for Economic Management and Finance Akapelwa Imwiko revealed that IFAD has allocated 30 million dollars, with total project costs reaching approximately 49.8 million dollars through domestic co-financing.
