MTN Zambia and the National Pension Scheme Authority (NAPSA) have partnered through a share placement that has seen NAPSA take up 8% stake in the telecommunications company.
According to a joint statement issued by Cephas Sinyangwe and Lisa Mulozi, who head the NAPSA and MTN communication departments, respectively, the partnership will bring immense benefits not only to NAPSA and its members and MTN and its subscribers, but also to the general public as a result of the numerous economic benefits brought about by improved telecommunications and digitalization.
NAPSA Director General Yollard Kachinda technology had greatly helped the authority in extending social security coverage to the informal sector by simplifying the on boarding and payment processes.
“Zambia has in the recent years seen some significant growth in mobile telecommunications and digital technology. Mobile data has transformed the way people conduct their day to day activities such as buying and selling of products and services. A mobile phone is no longer just a tool of communication, but an important component in trade and commerce and it is helping to reshape the way we conduct business,” Kachinda said.
Kachinda said the extension of network coverage to remote areas was enhancing financial inclusion by extensive mobile money usage.
“Because of the increased network coverage across the country, people can easily send and receive money. This is helping people to access some of their basic needs, including food and health services without having to move long distances to access their money,” he said.
He reiterated the importance of the development of telecommunications technology in pension administration.
“For us at NAPSA telecommunications technology has not only helped us to drastically improve service delivery to our members through introduction of mobile-based services but has also enhanced efficiency in the overall management of the scheme, leading to increased customer satisfaction. The technology has greatly helped us in extending social security coverage to the informal sector by simplifying the onboarding and payment processes. It is for this reason that we have put telecommunications as a key growth sector in our investment strategy,” said Kachinda.
And MTN Zambia Chief Executive Officer Bart Hofker said, “MTN Zambia’s partnership with NAPSA was a demonstration of the shared vision with the Zambian government to make the telecommunications company a truly Zambian owned company and to continue to contribute to the Zambian economy.”
Hofker said MTN Zambia was committed to partnering with local shareholders to ensure that the benefits of its investment in Zambia were shared with locals.
“As part of our undertaking to the Zambia Information Communication Technology Authority (ZICTA), 8% of our shares are now held by NAPSA and this was done through a private placement process. As MTN Zambia, we are always looking out for innovative ways of giving back to our citizens because we realise that, in this highly competitive industry, Zambian citizens are more than key and they are simply the reason for our success as MTN Zambia,” Hofker said.
He further said MTN was contributing to government’s vision of achieving universal access and financial inclusion through usage of a broad range of quality and affordable financial services that meet the needs of individuals, enterprises and business.
“MTN Zambia is proud to announce that we have signed up over 17 000 Merchants accepting mobile money payments across the country and 50 000 Mobile Money agents providing mobile money services to the Zambia citizens,” said Hofker.
MTN Zambia and NAPSA further acknowledge the support rendered to the private placement process by the transactional advisers namely: Stanbic Bank Zambia Limited, Corpus Legal Practitioners and Eric Silwamba, Jalasi and Linyama Legal Practitioners.