Airtel Networks Zambia Plc and Zambia Industrial Commercial Bank (ZICB) have entered into a partnership through a Memorandum of Understanding to enhance digital connectivity for Small and Medium Enterprises (SMEs) in Zambia
This collaboration will provide ZICB’s SME customers with 4G and 5G Internet devices, boosting their operational efficiency and market reach.
Enhancing SME internet connectivity
According to the MoU, ZICB’s SME clients will receive complimentary advanced 4G and 5G Internet service devices (routers) from Airtel. These clients must subscribe to monthly bundles for these devices and enroll in the Bank’s online banking service.
As Zambia's internet penetration is projected to rise from 31.2% in early 2024 to 43.44% by the end of the year, this initiative comes at a crucial time. Efforts by the government and private sector to build 520 communication towers aim to achieve 96% phone and internet coverage by late 2025 or early 2026. Additionally, the government announced plans in February 2024 to construct 60 4G mobile towers and digital centers offering free internet services in rural areas, further supporting connectivity.
ZICB acting chief executive officer Louis Kabula stated, “Through various collaborations and partnerships, ZICB has developed a comprehensive digital banking platform that promotes capital management efficiency and business convenience for our clients. By working together, we will create an environment where SMEs can thrive, innovate, and contribute meaningfully to the national economy. In closing, I would like to take this opportunity to express my sincere gratitude to the team at Airtel Business for their unwavering support and commitment to this partnership.”
Lindiwe Banda, business director at Airtel remarked that the partnership will facilitate easy access to Internet banking services for SMEs banking with ZICB, whether from their business premises or homes. Banda further explained that SMEs will receive Airtel devices at no cost, only needing to activate monthly bundles through a contract. “What is important to note is that the Airtel devices will come at no cost to the SME as they will only need to sign a contract of activating monthly bundles thus empowering the businesses and making it easy for them to do any online invoicing and keep record of their transactions,” she stated.
The objective is to provide SMEs with reliable and high-speed internet access through Airtel devices, enhancing their efficiency, expanding their market access, and improving their competitiveness.