Zambia Reaches 80% Financial Inclusion as FinScope 2025 Shows Strong Digital and Rural Gains
Zambia has achieved a major milestone in financial inclusion, with 80 per cent of adults now accessing formal and informal financial services, according to the 2025 FinScope Survey results launched by Bank of Zambia Governor Dr Denny H. Kalyalya.
Speaking at the official launch, Dr Kalyalya described the FinScope Survey as a critical “system-level diagnostic” that provides insight into how individuals and households access, use and experience financial services in an increasingly digital economy.
He noted that the findings reflect years of sustained reforms, including modernisation of payment systems, expansion of mobile money and agent banking, proportionate licensing, strengthened consumer protection frameworks, and national financial inclusion strategies targeting underserved populations.
According to the survey, financial inclusion has steadily grown from 33.7 per cent in 2005 to 59.3 per cent in 2015, and 69.4 per cent in 2020, before reaching 80 per cent in 2025.
Dr Kalyalya highlighted a narrowing gender gap in financial access, which has reduced to 2.2 percentage points from 3.2 percentage points in 2020, signalling progress in closing disparities affecting women’s participation in the financial system.
The survey also revealed significant improvements in rural financial wellbeing, with financial health in rural areas rising more than threefold from 11.3 per cent in 2020 to 37.6 per cent in 2025. National financial health also improved to 39.1 per cent, although still below the 51 per cent threshold considered moderately healthy.
The Governor attributed these gains to rapid digitalisation, expansion of fintech solutions, and improved access to digital credit, savings platforms and mobile financial services. However, he cautioned that access must translate into meaningful and sustainable usage, affordability, and consumer protection.
He emphasised that financial inclusion is closely linked to financial stability, noting that household-level financial behaviour provides important insights into systemic resilience and potential risks within the broader economy.
Dr Kalyalya further stated that the findings will guide regulatory priorities in payments system oversight, consumer protection, and market conduct, particularly as Zambia advances towards a more interoperable and digitally driven financial ecosystem.
He also pointed to the importance of balancing innovation with regulation, as new financial technologies and business models continue to emerge across the sector.
“The FinScope results are not just statistics; they reflect the lived realities of our people,” he said, urging financial service providers, innovators and civil society to use the data to improve access, affordability and quality of financial services.
He added that the Bank of Zambia remains committed to evidence-based regulation, collaboration and open dialogue to support the development of a more inclusive, resilient and innovative financial system.
