FinScope Zambia – 2020 Survey Report

To assess the level of financial inclusion in the country the Bank of Zambia in collaboration with other financial
sector stakeholders implemented the FinScope 2020 Survey, in September – October 2020. The FinScope Survey
is an important research tool developed by FinMark Trust to provide credible national information on the demand,
access, use of and behavior towards financial services by the adult population. It also enables policy makers and financial service providers to develop a more targeted response to the gaps and barriers that have been identified with regards to access and usage of financial services.

National Financial Inclusion Strategy (NFIS)

This National Financial Inclusion Strategy (NFIS) is a renewed commitment to financial inclusion in Zambia and builds on previous efforts and ongoing initiatives by Government. The vision for financial inclusion in Zambia is to have universal access to and usage of a broad range of quality and affordable financial products and services. In achieving this vision, it is expected that all Zambians will reap the full benefits of financial inclusion: that is, individuals will be able to use appropriate savings, credit, payment, insurance, and investment services to manage risks, plan for the future, and achieve their goals, and firms will be able to access affordable financing to facilitate innovation and firm growth and create employment.

National Financial Sector Development (FSD) Policy

This Financial Sector Development (FSD) Policy expresses the commitment of the Government of the Republic of Zambia to fostering the development of the financial sector through the provision of strategic guidance and oversight. The Policy aims at having a well-developed, competitive, and inclusive financial system that supports efficient resource mobilization and access to financial services and products by all. This takes cognizance that a well-developed and functioning financial sector would support the attraction and mobilization of savings and investments, allocate resources for development, and build the trust and confidence of a wide and diversified consumer base.