This information helps individuals and businesses to increase their awareness on the number of ways to save and invest their financial resources, as well as how to manage their financial affairs safely in an increasingly digitized environment. Ladies and Gentlemen, technology and innovation in the financial sector has played a major role in raising the level of financial inclusion in the country over the last five years. According to the FinScope 2020 Survey, while overall financial inclusion increased to 69.4 percent, from 59.3 percent in 2015, formal financial inclusion rose significantly to 61.3 percent from 38.2 percent. This was largely due to the uptake of mobile money, which went up exponentially by 58.4 percent from 14.0 percent. Invited Guests, the use of digital financial platforms for the payment of retail and public services, including Government services has significant benefits to consumers and service providers alike. Digital platforms facilitate relatively safe, efficient and  2/4  BIS - Central bankers' speeches  convenient service delivery and allows for tracking of financial transactions. With regard to Government related services, the use of digital platforms is expected to enhance revenue collection and contribute positively to the national Treasury. This notwithstanding, the rise in the use of Digital Financial Services has also introduced significant risks for individuals as well as for financial service providers. To address these risks, there is greater need to enhance cyber security and raise awareness about fraud to secure higher uptake and protect the consumers of digital financial services.

Ladies and Gentlemen, Zambia's commemoration of Financial Literacy Week is undertaken under the auspices of the Global Money Week, which is an annual global awareness-raising campaign on the importance of financial education for children and youth. This year's commemoration of Global Money Week and Financial Literacy Week is particularly special in that this year marks the 10th anniversary of the Global and local annual campaigns. In the last 10 years, the campaigns have been targeted at creating awareness amongst children, youth and adults on the need to acquire the knowledge, and skills about personal financial management. With the acquired knowledge, they can have the confidence and motivation to make sound financial decisions and use appropriate financial services. This knowledge is expected to translate to improved financial wellbeing, and resilience of our citizens, and enable them to contribute to national development through improved productivity as well as job and wealth creation. 1/4  BIS - Central bankers' speeches  Invited Guests, as we look back on the last 10 years of the commemoration of Financial Literacy Week and recognize its contribution to financial education, allow me to mention a few milestones that have been achieved: In 2012, Zambia launched its first ever National Strategy on Financial Education (phase I) which clearly identified children, youths, adults, Small Medium Enterprises and Small holder farmers as target groups. The main goal was to have a financially educated Zambian population by 2030; In 2017, the National Financial Inclusion Strategy was launched.