By Cecilia Chiluba 
BuyZed campaign has hailed government for introducing the 24-hour economy initiative, starting with the financial services sector.
The goal of this initiative is to enable 24/7 financial transactions and other services, supporting a broader digital economy and facilitating trade.
This initiative is part of a larger vision to align Zambia’s payment system with global trends and international best practices.
BuyZed Founder Evans Ngoma told Money News that the move will stimulate economic growth, increase productivity, and enhance competitiveness.
“The 24-hour economy promises numerous benefits, including increased economic output and job creation, improved service delivery and customer convenience and enhanced competitiveness and attractiveness to investors.”
“As a campaign promoting local products and services, BuyZed is excited to see the potential impact of the 24-hour economy on various sectors, including increased access to financial services, boosted economic activity and trade as well as improved efficiency and productivity,” Mr. Ngoma said.
Mr. Ngoma encouraged the government to continue implementing the initiative, exploring opportunities to extend hours in other sectors, and addressing potential challenges.
“BuyZed looks forward to collaborating with stakeholders to harness the potential of the 24-hour economy for Zambia’s economic growth and development,” he added.
The immediate focus of the 24-hour economy for the financial sector is on making financial services readily available around the clock, enabling businesses and individuals to conduct transactions at any time.