Strengthening Zambia’s digital finance ecosystem through the MM4P program

• Sep 25, 2025
• 1 min

The UN Capital Development Fund’s (UNCDF) Mobile Money for the Poor (MM4P) program in Zambia set out to prove how a carefully designed blend of technical, financial, and policy support could help scale sustainable branchless and mobile financial services for underserved communities. The initiative sought to extend digital finance to low-income and rural populations, increase the use of branchless channels, and create an enabling environment for providers and regulators alike.

MSC was engaged to provide digital financial services expertise to support the program’s country-level initiatives. The team conducted payment flow diagnostics, including a comprehensive study on government payments through the Better Than Cash Alliance methodology. This work identified critical challenges to digitization and developed a clear roadmap of recommendations for policymakers and stakeholders. MSC also supported service providers with market and client research, product and service design, and project monitoring to ensure international best practices were adapted to Zambia’s specific needs.

Through this engagement, MSC’s contributions helped shape four provider projects under MM4P designed to promote a healthier digital finance ecosystem. The program strengthened the digitization of government payments, expanded the reach of mobile money, and enhanced the adoption of digital financial services among low-income and rural households. These efforts laid the groundwork for greater financial inclusion in Zambia by ensuring the sustainable growth of digital financial services.

The UN Capital Development Fund (UNCDF) commissioned the project.