Mobile phones have emerged as a ubiquitous tool across the globe, and Zambia is no exception. The economic impact of mobile phones on Zambia is huge, starting from small businesses to the economy as a whole. In this article, we will explore the impact of mobile phones on Zambia’s economy with well-researched facts and insights.
Increased Accessibility to Financial Services
Traditionally, financial services were only accessible to a limited number of people, mainly those who had bank accounts. Mobile phones have changed that, as they have enabled more people to access financial services. According to a report by the United Nations Capital Development Fund (UNCDF), in 2018, Zambia recorded a mobile money usage rate of 28.2%. This is an incredible achievement, considering that in 2013, only 4% of Zambians had access to formal financial services.
Job Creation
Mobile phones have created numerous job opportunities in Zambia. The mobile industry has created thousands of jobs directly and indirectly, particularly in the mobile money sector, customer care services, and mobile phone selling. Zambia’s mobile money industry, for example, employed over 30,000 people in 2019, according to the Bank of Zambia.
Increased Productivity
Mobile phones have enhanced productivity in various sectors in Zambia. In the agricultural sector, for instance, small-scale farmers can access market prices and other market trends via their mobile phones. Consequently, they can make informed decisions on when and where to sell their products. Additionally, mobile phones have improved communication and coordination in various sectors, which has led to increased productivity and, ultimately, economic growth.
E-commerce and Online Business
Mobile phones have played a significant role in the growth of e-commerce and online businesses in Zambia. With over 15 million mobile phone subscribers and a penetration rate of 78%, more people have access to online services, and businesses have taken advantage of this. Additionally, mobile money has allowed people to buy and sell goods and services online by facilitating online payments.
Conclusion
In conclusion, mobile phones have had a significant impact on Zambia’s economy. From increasing accessibility to financial services and creating job opportunities to enhancing productivity and promoting e-commerce and online businesses, the mobile industry has revolutionized the Zambian economy. With the continued growth of the mobile sector in Zambia, numerous opportunities will continue to emerge, and the country is set to reap the benefits.
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