Zambia's Banks Ready to Power 24-Hour Economy, Says BAZ

The Bankers Association of Zambia (BAZ) has confirmed that the country's banking sector is fully prepared to support the government's transition to a 24-hour economy, with digital infrastructure already tested and extended operating hours in place.

BAZ CEO Leonard Mwanza said the industry had spent 2025 laying the groundwork for round-the-clock financial services, including a successful pilot extension of the Electronic Fund Transfer (EFT) platform. Banks currently process transactions from 07:00 to 19:30 on weekdays and from 08:00 to 14:00 on weekends, a significant expansion of the traditional banking day.

"The industry is ready to support the process of transitioning our economy to a 24/7 one," Mwanza said, adding that the goal was to ensure every transaction initiated within 24 hours receives value within that same cycle.

The development represents a critical enabler for Zambia's broader economic ambitions. A fully operational round-the-clock payment system removes one of the most persistent barriers to commerce, the closing of financial channels during peak trading hours, and positions Zambia's formal economy to better serve businesses and consumers across all sectors.

The timing is significant. With Zambia's population of over 20 million, more than 60% of whom are under the age of 25, the demand for accessible, always-on financial services has never been greater. President Hichilema's vision of a modern, diversified economy depends on exactly this kind of infrastructure: a banking system that works as hard as the Zambian people it serves.