Business

Banks Urged to Balance AI with Human Judgement

The Bank of Zambia says the country has made significant progress in...

By Arnold Tutu Zambia24 Published 12 September 2026, 21:33 CAT • 12 Sep 2026 1 min read

By Angela Hanunka

The Bank of Zambia says the country has made significant progress in financial inclusion through reforms to the banking and financial services framework and the development of digital payment systems.

However, Bank of Zambia Deputy Governor – Operations, FRANCIS CHIPIMO, has urged the financial sector to ensure artificial intelligence does not undermine human decision-making.

Dr. CHIPIMO says there is still an opportunity for people to shape how artificial intelligence is developed and used to ensure the technology serves society.

He was speaking in Livingstone during the 2026 Banking and Finance Awards and Gala Dinner.

Lakatips

And Bankers Association of Zambia Chief Executive Officer LEONARD MWANZA said the banking sector is committed to working with Government and the Bank of Zambia to accelerate digital transformation and expand financial inclusion.

Mr. MWANZA said banks are also committed to using technology to extend financial services to under-served communities across the country.

Meanwhile, Zambia Institute of Banking and Financial Services President KULDIP PALIWAL said the Banking and Finance Awards are aimed at promoting excellence, innovation, professionalism and ethical standards in the financial services sector.

Mr. PALIWAL said the awards also help strengthen public trust and confidence in the financial system by recognising institutions that provide quality services and uphold high ethical standards.

Source: Zambia24 — Read more

Bank of Zambia