The Reserve Bank of Malawi (RBM) has disclosed that illiteracy is contributing to low use of electronic payment services in the country.
According to RBM statistics, only 40 percent of the country’s population is able to use e-payment in Malawi.
Speaking at the launch of an awareness campaign for e-payment, RBM deputy governor of economics Naomi Ngwira said many Malawians are failing to use the electronic payment mode as they fail to follow procedures of the systems.
“We have set up a national taskforce and it has got all the stakeholders in there, we have identified all the constraints and one of them is network and MACRA is on board,” said Ngwira.
The minister of civic education, culture and community development Patricia Kaliati has since urged Malawians to use e-payment arguing that it is one proof that the country has advanced technologically.
“We need to move, we need to develop our mind, develop ourselves the way we dress up, the way we exchange money,” said Kaliati.
The awareness campaign that is supported by World Bank under the theme ‘Go Cashless’ will see Malawians getting knowledge of electronic payment.
E-payment has been deemed to be an efficient system in making payments as it helps to reduce cases of fraud.
Among the local systems under e-payment in Malawi include Mo626 ice, TNM Mpamba, and Airtel money.