michael gondwe : mobile payments and mobile banking in zambia opening address by dr michael gondwe, governor of the bank of zambia, at the 4th annual celpay mobile payments conference, lusaka, 12 september 2012. * * * • the chairman of the board of celpay zambia, dr. jacob mwanza • the chief executive of celpay international, mr. lazarus muchenje • senior government officials • representatives of embassies • chief executives officers of commercial banks and financial institutions • representatives of international business organisations • representatives of zambian business organisations • distinguished participants • members of the press • ladies and gentlemen it is an honour and privilege to officiate at the 4th mobile payments conference being hosted by celpay zambia limited under the theme “ 1st decade mobile payments, 2nd decade universal mobile banking services ”. the theme for this conference is appropriate and timely as it provides an opportunity for participants, and especially stakeholders, to not only reflect on what has been a decade of tremendous achievement and growth, where major changes have occurred in banking due to the introduction of mobile payments and mobile banking, but also an opportunity to gaze into the future and take a pioneering role in charting out how mobile payments can ultimately provide more banking services remotely, and away from traditional banking. it is now accepted that the advent of the internet coupled with the emergence of mobile phones have greatly enriched the banking experience whilst simultaneously serving as the core technologies assisting africans and most of the developed world to start accessing financial services. mr. chairman, i am extremely proud that this mobile banking and mobile payments revolution that has changed the face of banking forever was started right here in lusaka, zambia by celpay zambia, who on april 24, 2002 made the very first mobile payment and in doing so ignited a banking revolution that is bringing affordable, accessible payments and banking services to previously financially excluded societies and families. i would like to congratulate celpay on this momentous achievement and on their 10th anniversary. i trust that as you go through your deliberations over the next two days, this pioneering spirit will be enthused into your discussions and debates and you will chart the way forward for the next decade so that more banking services can be delivered through this innovative channel to even more people. ladies and gentlemen, i would like to take a moment to dwell on the global environment. since 2008 the world has gone through an unprecedented financial crisis, which led to the collapse of some major global financial institutions and

of the financial sector. this has been demonstrated by the pensions and insurance authority, the insurers association of zambia as well as securities and exchange commission and the capital markets association of zambia who successfully launched the insurance week under the theme " insurance - solutions for a better tomorrow " and world investor week under the theme " learn more about investor resilience and sustainable finance " earlier this month. i am confident that the key messages disseminated during these events will contribute to raising the levels of financial literacy in the country. be assured that i am committed to supporting the implementation of the national strategy on financial education through such campaigns. ladies and gentlemen the world savings day celebrations would not be successful without recognising individual and organizational contributions towards improving financial literacy in zambia. in this regard, awards will be presented under nine categories namely : 1. exceptional individual contribution to financial education, 2. outstanding theme interpretation ; 3. exceptional leadership in financial literacy ; 4. champions award ; 5. most innovative financial education programme ; 6. outstanding financial literacy footprint ; 7. exceptional financial literacy media outreach ; 8. outstanding initiative by an educator ; and 9. best savings product of the year. i am delighted to grace this year's world savings day award presentation and wish the nominated participants all the best. in conclusion, i would like to thank the organisers and stakeholders under our partnership arrangement, in particular, the bankers association of zambia, securities and exchange commission, pensions and insurance authority, rural finance expansion programme and dsik for their continued support to the world savings day celebrations every year. thank you 3 / 4 bis - central bankers'speeches 4 / 4 bis - central bankers'speeches