27/11/2024
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NATSAVE partners with Airtel Money to unveil FIKILIZA overdraft service

The National Savings Bank (NATSAVE) have partnered with Airtel Mobile Commerce Ltd (Airtel Money) to provide the FIKILIZA overdraft service which allows Airtel Money customers to complete their Airtel Money transactions when they have insufficient funds in their Airtel Money account.

(In image: Yabx CEO – Rajat Dayal, Airtel Money Director – Andrew Chuma, Airtel Networks Zambia Plc MD – Hussam Baday, Minister of Commerce – Hon. Chipoka Mulenga, NATSAVE Director Retail Banking – Ms. Cynthia Mwila)

Speaking at the launch at Intercontinental Hotel this morning, Minister of Commerce, Trade and Industry, Honourable Chipoka Mulenga said the Government of Zambia is always pleased to support initiatives that are aimed at making lives for communities easier. 

Mr. Mulenga said as stated in the 8th national development plan, his Ministry was happy to see innovation facilitated by technology as a key enabler to the digital transformation of the country for economic growth.

“Our emphasis as a Ministry has always been the promotion of public private partnerships because through these, we can prioritize investments and innovations such as this one that we are unveiling today in the bid to create opportunities and a supportive environment to help spur entrepreneurship for the Zambian people,” the Minister said.

Airtel Networks Zambia Plc Managing Director, Mr. Hussam Baday on giving his welcome remarks said he is a firm believer that partnerships enhance not just brand visibility, but also augments the products and services offered because of the shared expertise and knowledge that is brought to the table by the partners.

He said the strategic partnership with Natsave and Yabx spoke of how the telecommunication industry through technology was enriching the lives of many communities as witnessed by the launch of the Fikiliza overdraft service.

NATSAVE Acting Chief Executive Officer  Ms Fatma Abad said her bank was excited about the partnership as it embodied its vision of delivering financial inclusion while making banking accessible, reliable, and customer centric.

“Today marks a significant milestone of our partnership with Airtel and Yabx.  This is a demonstration of our unwavering commitment to financial innovation, enhancing banking services, and promoting access to all even as we recognise the importance of leveraging technology to bridge the financial inclusion gap,” Ms. Abad said.

And Airtel Mobile Commerce Country Director, Mr.  Andrew Chuma said he was proud to present the first-ever mass market consumer overdraft service in Zambia, a service that will be available and accessible to over 7 million customers on Airtel money, enabling customers to make essential transactions even when their mobile money wallets fall short.

“We are very excited about this transformative product that marks a historic milestone in Zambia’s financial landscape. For us Fikiliza means helping customers “reach” their financial goals or “complete” transactions even when they have zero or insufficient funds in their mobile wallet. This aligns with the product’s purpose of bridging urgent financial gaps and providing customers with a convenient financial solution when they need it the most,” Mr Chuma said.

YABX CEO Mr. Rajat Dayal said his Company was happy to provide the technology for the partnership between NATSAVE and Airtel Money. 

Adding: “Africa is increasingly seen as a hub for future-shaping innovations, and here we are in Zambia, launching Fikiliza—a product that brings a “Buy Now, Pay Later” model to all Airtel customers. Fikiliza’s quick onboarding, credit scoring, and loan disbursement system not only meets the needs of everyday customers but also supports local merchants,” Mr. Dayal said.

2 thoughts on “NATSAVE partners with Airtel Money to unveil FIKILIZA overdraft service

  • Why would u put a due date for the following payment yet you deduct the same day after borrowing

    Reply
  • Patrick Phiri

    I got an overdraft of k400, then someone sent me a k500 but you did an auto recovery of k502 and the fikiliza account is still reflecting that iam still owing..so the challenge is that I can’t now use my Airtel account because every money is been recovered automatically..I logged in my my complaint to Airtel and the said they did an email to you, this is more than 72 hrs and still no response…my line is 0977706538, is this how customers will be inconvenienced for using your services?

    Reply

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