Mobile money transactions have reduced by 33.7 percent in the first half of this year from K76 billion during the same period last year to K50.4 billion this year.
Similarly, the volume of transactions also reduced from 358 million in the first half of 2021 to 27u million.
The reductions have been attributed to the emergency of substitutes such as agency banking network adopted by most commercial banks.
This is according to a statement issued yesterday by Zambia Information and Communications Technology Authority (ZICTA) public relations manager Hanford Chaaba on the mid-year performance of the ICT sector.
Cellular subscription’s have also declined by five percent to 18.7 million in the first half of 2022 from 19.7 million noted at the end of June 2021.
“This trend was mainly attributed to the active SIM cards that were deactivated during the first half of 2022,” he said.
Over two million SIM cards across the country were deactivated.”
The number of active internet subscriptions also decreased from 10.4 million in the first half of 2021 to 10.1 million as at end of June.
