Airtel Networks Zambia Plc and Zambia Industrial Commercial Bank (ZICB) have formalized a Memorandum of Understanding (MoU) and partnership to provide Small and Medium Enterprises (SMEs) in Zambia with advanced digital connectivity.
The partnership aims to equip ZICB’s SME customers with 4G and 5G internet devices, enhancing their operational efficiency and market access.
Under the terms of the MoU, ZICB’s SME clients will receive free advanced 4G and 5G internet service devices (routers) from Airtel. However, these consumers must sign up for monthly bundles on these devices and register for the bank’s online banking service.
In a country where the internet penetration rate is expected to rise from 31.2 percent in early 2024 to 43.44 percent by the end of the year, this initiative is timely. Zambia’s government and private sector are also working on constructing 520 communication towers to achieve 96 percent phone and internet coverage by the end of 2025 or early 2026.
In February 2024, the government announced plans to build 60 4G mobile towers and digital centers offering free internet services in rural areas, further supporting this push for connectivity.
ZICB Acting Chief Executive Officer Louis Kabula said, “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. I would like to express my sincere gratitude to the team at Airtel Business for their unwavering support and commitment to this partnership.”
Airtel Business Director, Lindiwe Banda, commented that the partnership will enable easy access to internet banking services for SMEs banking with ZICB, conveniently from their business premises or homes. Banda added that SMEs will receive Airtel devices at no cost, only requiring a contract to activate monthly bundles. “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 to activate monthly bundles, thus empowering the businesses and making it easy for them to do any online invoicing and keep records of their transactions,” she stated.
This initiative aims to provide SME clients with reliable and high-speed internet access through Airtel devices, enabling them to enhance their operational efficiency, access new markets, and improve their overall competitiveness.
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