Written by on August 26, 2019



GOVERNMENT says the financial sector is critical to the attainment of sustainable economic development and poverty reduction.

Minister of Youth, Sports and Child Development Emmanuel Mulenga said the financial sector was recognised as a facilitator of economic growth and development.

Mr Mulenga was speaking during the launch of the United Bank for Africa UBA Platinum MasterCard at Protea Hotel in Ndola.

He stated the UBA Platinum MasterCard was an innovation that should be applauded by all.

“Government, under President Edgar Lungu, is happy that banks are churning out new products that are simplifying the way we transact,” Mr Mulenga said.

He said the national payment systems were gradually evolving from cash to electronic oriented systems following the enactment of the Payment Systems Act of 2007.

Mr Mulenga said UBA Zambia was making progress in offering products that allowed people to transact without having to walk around with cash.

“The government also recognises the importance of digital financial services and the role they play towards the increased usage of electronic payment tools by the general public,” he said.

Government would continue providing an environment for investment.

UBA managing director Emeka Diamanochile said the MasterCard identified a need to take the digital space to the next level.

Mr Diamanochile said the UBA and MasterCard identified the need to take the digital space to challenge convention, to raise the bar and explore the exciting prospects that lay ahead.

“This launch reflects UBA Zambia’s confidence in the growing the market and our continued commitment to bringing the most innovative banking products and services to our customers,” he said.

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