Money Transfer Service Provider — Zambia

The Zambia category mapped to cross-border remittance.

NPS Act 2026: receives funds from a sender for transfer to a beneficiary (domestic + cross-border). Facts conditional on register availability.

Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-24 · unchanged since the previous check.

Licensed providers

6 entities

#	Provider	Status (as reported)	Source	Source date
1	Airtel Mobile Commerce Zambia Limited	authorized	Bank of Zambia	not dated
2	Instapay Africorp Limited	authorized	Bank of Zambia	not dated
3	Monyglob Pty Limited	authorized	Bank of Zambia	not dated
4	Mukuru Money Transfer Limited	authorized	Bank of Zambia	not dated
5	Postdotnet Zambia Limited	authorized	Bank of Zambia	not dated
6	Zambia Postal Services Corporation	authorized	Bank of Zambia	not dated

Reading the tables

not dated: — the official source publishes no date of its own. We show our own last-checked date instead of inventing one for the regulator.

Licence requirements

What it takes to hold this licence, as stated in the cited official instruments. Capital and fees are shown in the currency the statute itself uses.

Requirement	As published	Source	Source date
Minimum capital	Not officially published: No published number. Delegated to BoZ (s.87); applicant evidences initial capital, no ZMW minimum stated.	National Payment System Act, 2026 (Act No. 5 of 2026) — enabling Act, categories + delegation	2026-04-08
Local presence / incorporation	Body corporate; PACRA; ZICA auditor; local bankers; foreign-company route (s.14(2)). Verbatim “A person that is not a corporate shall not be issued with a licence under this Act. … may be granted to a foreign company registered in the Republic if the … foreign company is a payment service provider in the country where the … principal place of business is located…”	National Payment System Act, 2026 (Act No. 5 of 2026) — enabling Act, categories + delegation	2026-04-08
Timeline	Processing ≤ 90 days; validity indefinite; 18-month commencement. Verbatim “…within a period of ninety (90) days from the date of receipt of the duly completed application. … A licence issued under this Act shall remain valid unless suspended or cancelled by the Bank or surrendered by a licensee. … A licensee shall commence a business … within eighteen months from the date a licence is granted…”	BoZ, Requirements for Designating a Payment System, February 2025	2025-02
Local ownership	No local-shareholding %; majority-Zambian-resident board. Verbatim “(a) … a minimum of three (3) board members … (c) Majority of the number of appointed directors shall be resident in Zambia.”	BoZ, Requirements for Designating a Payment System, February 2025	2025-02
Fees	Not officially published: Prescribed application fee + annual designation fee — no amounts published.	National Payment System Act, 2026 (Act No. 5 of 2026) — enabling Act, categories + delegation	2026-04-08
Ongoing obligations	Maintain a customer funds account at a BoZ-approved bank/FI; balance ≥ outstanding liabilities to customers; safeguarding-of-funds measures; AML/KYC; ZMW settlement. Verbatim “maintain a customer funds account at a bank or financial institution approved by the Bank … ensure that the amount held in a customer funds account is not less than … outstanding liabilities to customers.”	National Payment System Act, 2026 (Act No. 5 of 2026) — enabling Act, categories + delegation	2026-04-08

Requirements as published in the cited instruments — not legal or compliance advice. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.

The equivalent in other markets

Categories mapped to the same normalized activity — fintech:REMITTANCE_XBORDER:

Cross-border rules for Zambia →