Rural finance policy game changer

PEOPLE in rural areas depend on agriculture for their survival. PICTURE: ZANIS

INCREASING access to financial services by rural households in the country is cardinal to reducing poverty, creation of employment and wealth, and attracting meaningful industrial development.
This can lead to sustainable economic growth for the country as rural dwellers will be able to easily access finance to undertake various projects.
Realising the importance rural finance can play in the economic development of the country, Government in 2012 launched the rural finance policy and strategy to promote financial inclusion and access to the unbanked communities.
By launching the policy and strategy, it was hoped that lack of access to financial services, which has to a large extent restricted the development of potential of Zambia’s rural areas and the agriculture sector, could be addressed.
While there has been a response to the call as witnessed by agency banking services and mobile money platforms, the response is a drop in the ocean as some remote parts of the country are still unable to access the services CLICK TO READ MORE

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