Minister of Education Douglas Syakalima has commended Ecobank Zambia for coming up with a payment solution that seeks to enhance service delivery in the education sector. Speaking during the launch of the Education Banking (Edu-Banking) ecosystem payment solutions, Mr Syakalima said the payment system will address long-standing challenges of transparency, revenue leakages and inefficiency. Mr Syakalima explained that the payment solution will allow parents and guardians to make school fee payments easily, using a mobile phone at their own convenience.
The Minister said schools stand to benefit from the Edu-Banking payment solution as they will be able to monitor transactions in real time, thereby enhancing accountability. Mr Syakalima expressed confidence that the Edu‑Banking solution will help schools improve their fee collection. He stressed that the banking solution is key in curbing revenue leakages, reducing fraud risks and delaying accounts reconciliations.
The Minister said this in a speech read for him by the Ministry of Education Permanent Secretary for Educational Services, Kelvin Mambwe. And speaking earlier, Eco Bank Zambia Managing Director Aina Moore stressed that the Edu-Banking solution is part of the efforts by the bank to contribute to improved service delivery in the education sector. Ms Moore said that through the cashless collection solution, parents can make school fee payments easily, using a mobile phone.
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Ms Moore said this in a speech read for her by Eco Bank Zambia Head Public Sector Banking Darlington Chiluba. And Poplar School Director Chola Chabala urged parents to fully utilise the Edu-Banking payment solutions. Mr Chabala said parents and guardians will only appreciate the benefits of Edu-Banking payment solutions if they utilise it.
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