THE Bank of Zambia is pondering phasing out the use of cheques as a payment instrument, effective December 31, 2025. According to a notice issued yesterday, BOZ stated that the decision was necessitated by a sustained decrease in cheque usage by members of the public and businesses. “In line with the National Payment System Vision and Strategy 2023 to 2027, members of the public are hereby informed that cheques will cease to be accepted as a payment instrument in Zambia effective 31st December 2025. This decision has been necessitated by a sustained decrease in cheque usage by members of the public and businesses on account of the following: emergence of electronic payment methods. Advancement in financial technology has seen the...