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14 Profitable Business ideas(Zambia)

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Business Ideas In Zambia to Earn Money
Business Ideas In Zambia to Earn Money

For everyone based in Zambia there’s high increase for what business to invest into and earn a good living from selling products. Therefore in this article we share list of small scale business ideas in Zambia. These business ventures, can be implemented with less capita. But others would need at least a little bit more startup income and cash. You can get on today, by choosing on of the following profitable business ideas. Stop dreaming and implement your business idea by making it a reality today.

What business is more profitable in Zambia?

The ones we have shared below are the most recommended business considered profitable. There’s a million ways to make money and actually very easy becoming your own boss from these businesses. Some businesses on this list can be stared with little income, which is very good if you have been asking people, “what business can I start with a k1000”. Quickly find answers below for what business is more profitable in Zambia.

List of business ideas in Zambia

  1. Money Transfer Services
  2. Food Business
  3. Web Development
  4. Selling Mealie Meal
  5. DSTV Agent
  6. Stock Business
  7. Importing Goods
  8. Car Dealership
  9. Selling Electronic Goods
  10. Advertising Business
  11. Courier Services
  12. Farming Business
  13. Charcoal Distributor
  14. Bureau De Change

Here’s 14 Best Profitable Businesses Ideas For Zambians

1.Money Transfer Services

In every economy , money is the most important necessity. Today with the introduction of digital currency, people in Zambia have reduced on the need to use a bank when sending money. This has been to cut on long queues and to reduce on time wasted. No one wants to stand in line for so long just to get money, but with introduction of mobile money and other transfer services.

Its become easy for people with money transfer services, such as MTN mobile money, Airtel Money, Western Union, Kazang, and Zoona to make more than you can ever imagine as commission for providing such a service to the public. Learn more about money transfer service business and how you can get stated below!

  • MTN Mobile Money

MTN mobile money is one of the fastest mobile wallet services which allow account owners to send and receive money through their mobile device. We have added MTN mobile money to this list of small scale business ideas in Zambia because its one of the most paying money transfer service business.

  • Airtel Mobile Money

Airtel mobile money service is a mobile wallet service similar to MTN mobile money and provides same services which include receiving and send money to friend’s or family. Visit there main website for more information on how you can become an agent for Airtel and earn from your business.

  • Western Union

Western union money transfer provides an opportunity for people to send money outside the globe, family and friends. Western union is one of the well paying on this list of small scale business ideas in Zambia. You get your commission in dollars for outside going transactions and incoming transactions as an agent. To become a western union money agent, please visit western union agent portal and apply.

2. Food Business

Selling food is one of the leading business ideas in Zambia. Nothing can be compared to this today if you want to make money. People need to eat every day, therefore selling of food, restaurant business or butchery is the best business idea you can ever do. Based on the correct exchange in Zambia, food despite becoming more and more expensive, people selling are actually benefiting more.

3. Freelance Web Developer

Web development with an increase in demand for online presence from people and businesses. Freelance web development has significantly impacted more people positively earning more than you can imagine from this job today. There’s over a million jobs for web development on job portals. And as an advantage you can earn even more from making mobile Apps and some add-on services such as SEO.

Web development is different from webs designing in so many ways. One of them includes that you will be required to start learning how to code and produce mark ups from scratch. Luckily today there’s a digital agency committed to teaching people how to become developers in Zambia. Enroll now at an affordable fee. After your learn within few months they will even help you on ways to get your first top dollar job.

Web development is among best paying business ideas, because according to online survey for good paying jobs it was recorded established freelance web developers in Zambia make over K90,000 – K180,000 per year. This is an annual amount from both local, freelancing and international jobs. Web development charges in Zambia, range from K15,000 for an ecommerce website, K8,000 for medium sites and 4,000 for smaller personal websites.

4.  Selling Mealie Meal

Today’s demand for increased need of mealie meal has turned to be one of the best and well paying business. Nshima been the country’s staple food, 80% of citizens depend on this for food, during lunch and supper. Not only is Nshima nutritious but also affordable, gives more and just appetizing.

Prices for mealie meal have been hiking each year, hence opening doors for more people to join the business of selling this product. Another option available been, you can become and agent for some big milling company and earn income through commissions per month. YOU can also try to become a mealie meal distributor for your town if you have little bit of more capital.

5. DSTV Agent

DSTV is a subsidiary of multi-choice company, which offers digital televising shows to customers for paid TV services. Its been around for over 30 years and having over 2 million customers actively subscribed to the services in Zambia. People engaged in this business shared how much they make depends on customers paying. Commissions for each customer go up to 20% of an amount paid. The more customers you get actively coming to your outlet, more chances of earning more money. Therefore its important and advised to find good location and add variation of products.

6. Stock Business

Stock also known as equity is a security that represents ownership of an individual within a particular company. Its among the best well paying business ideas in Zambia, because shares get sold at par value which is the total cost of shares in stock, converted to money. You earn money through buying and selling shares. Meaning you make 500,000 for selling 10 shares of your stock if you have 100 shares valued at 500 kwacha par value. You can visit the Lusaka stock exchange website on how to find agents and ways you can buy your first shares.

7. Importing Goods

Another important business venture on our top 15 business ideas in Zambia Profitable, deals with importation of foreign goods in the country. Due to currency advantages the kwacha has, it is an exceptional business buying goods out the country and selling locally. There’s so much one can buy outside Zambia and sell locally, from electronic goods, clothing, cars, food, etc.

8. Car Dealership

Dealing in this business of selling vehicles has proven to be profitable from time to time. People need vehicles because its an important necessity for everyone who needs mod e of transportation. Car dealer earn more than 50% from the money invested per vehicle. Running a distributional vehicle selling center for second hand cars at retail level is a very profitable business.

9. Selling Electronic Goods

Electronic goods refers to anything that requires power to operate and function. Its been proven to be a safe business, selling and distributing electronic components. You can sale, money things in Zambia today, from car batteries, televisions, decoders, radios, music equipment, etc.

10. Advertising Business

Advertising business involves selling space for companies and business to rent in order to advertise there products. Advertising ranges from billboard, website advertising, radio and television. If you own a radio station then its an opportunity to ale advertising space to companies. Don’t forget making a website and selling advertising space is good profitable business. Among major business ideas in Zambia, advertising business is the less saturated but profitable venture to earn money and an entrepreneur.

11. Courier Services

Start a courier services and parcel delivery company. It has been increasing on its demand locally. Most people have given up on working with local postal services to send parcels. Hence opening this type of business, that involves sending parcels on behalf of clients can be very profitable. You can choose from many categories, which includes food delivery, clothing, electronics, etc. If you have some capital it can be diversified to also deliver goods locally from outside the country.

12. Farming Business

Purchasing land for agriculture is another great business idea in Zambia. Even though you would need land, once that gets settled out. It becomes easy to grow crops in Zambia. The countries climate system and weather patterns through out the year, makes it very convenient for farming. There’s’ a broad market of people, companies and supermarkets locally ready to buy farm products in bulk.

Most local farmers, sale farm products to government at an accelerated rate. Its profitable especially when there is shortage of maize on the market. Foreign nationally owned businesses, promote local farmers, farming fruits and vegetables. You can sale products to companies such as ShopRite and Choppies.

13. Charcoal Distributor

Over 2 million houses in Zambia today still rely on using charcoal for cooking. Despite most homes having electricity, load shedding has impacted more people severely in recent years. Hence this business has become source of income for charcoal burners. Anyone who’s willing can embark on distributing charcoal, either as a producer or retailer supply to homes.

14. Bureau De Change

A bureau de change, otherwise also known as currency exchange is one of the most profitable business ideas in Zambia you can start. This is a type of business people come to exchange one type of currency for another. Its good because some people avoid banks due to long queues and procedure. You get to set your own exchange rate change that’s what makes it profitable.

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Banks in Zambia(Overview)

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Top Banks in Zambia
Top Banks in Zambia

This article shows top banks in Zambia and their addresses. “BOZ” is a central Bank, in charge of regulating financial institutions, including commercial banks in Zambia. Other functions of top banks in Zambia, include Performing a role of central bank. Therefore, prescribes banking regulations and ensures fiscal control.

Thus, its action include financial and monetary policies regulations. Bank of Zambia, hence ensures commercial banks adhere to policies. BOZ was established in 1964, immediately after Zambia became a independent state. Thus, making it a predecessor for Bank of northern Rhodesia for these Banks in Zambia and their addresses.

Here’s what you will find in this article:
  • Banks in Zambia you must know
  • Bank of Zambia and its functions
  • International banks in Zambia
  • Market share of banks in Zambia
  • List of commercial banks in Zambia, including list of foreign banks in Zambia
  • And how many banks are in Zambia the total number of those operating locally.

Zambia with a stable financial market, opens doors to bank investors every year. More than 20 Banks in the country currently operational, located nationwide. You can easily find any bank in each town and province. Additionally, this list includes private and Government banks.

Functions Of The Central Bank (BOZ)

Central bank deals with implementation of fiscal and monetary policies. Its in charge of monitoring cash reserves, money flow and controls of foreign balances. Another major function, been to ensures money circulation. Zambian central bank control’s credit loans as well.

It protects the depositor’s Interest, and provides guidance during any financial crisis. Provides supports toward the central government. Mostly applying to a budget deficit. Control of treasury bills, as well as Government bonds are close monitored by the central bank.


Top Banks in Zambia (Assets, Revenue & Net Profit)
Bank NameTotal AssetsRevenueNet Income & Profit
Access Bank Zambia1.05 billion (ZMK)22.5 million (ZMK)11.7 million (ZMK)
First Alliance Bank678.08 million (ZMK)112 million (ZMK)25.91 million (ZMK)
Investrust Bank1.19 billion (ZMK)148.1 million (ZMK)38 million (ZMK)
Ecobank Zambia1.5 billion (ZMK)1.19 million (ZMK)19 billion (ZMK)
Cavmont Bank Limited946.84 million (ZMK)120.15 million (ZMK)696,000 million (ZMK)
Stanbic Bank92.1 million (ZMK)19.65 million (ZMK)88.4 million (ZMK)
Absa Bank Plc192.1 billion (ZMK)92.1 million (ZMK)112.1 million (ZMK)
Standard Chartered Bank Zambia292.5 billion (ZMK)192.1 million (ZMK)982.1 billion (ZMK)
Zambia National Commercial Bank200 billion (ZMK)130.9 million (ZMK)5.19 million (ZMK)

Today Zambia has 20 privately owned Banks operational. Government controls part of the banking sector to ensure monetary policy. Part of the strategy to improve fiscal discipline and IMF’s economic program. Improves economic and GDP growth. If you have interest to start a business and invest in Zambia’s banking sector. This guide will give you an overview of top banks in Zambia and their addresses.


Top 20 Banks in Zambia(Overview)

Bank NameBranch NameP.O BoxContactLocation
ACCESS BANK ZAMBIA LIMITEDAB BankP.O. Box 38173, LUSAKA+260-211-220830/33Lusaka
AFRICAN BANKING CORPORATION ZAMBIA LIMITEDBankABCP.O. BOX 39501, LUSAKA+260-211-227941Lusaka
AB BANK ZAMBIA LIMITEDAccess+260-211-220830/33Lusaka
ABSA BANK ZAMBIA LIMITIED PLCAbsa BankPO Box 31936+260-211- 225553Lusaka
BANK OF CHINA (ZAMBIA) LIMITEDBOCP.O. BOX 34550, LUSAKA+260-211-238711Lusaka
ECOBANK ZAMBIA LIMITEDEcobankP.O. BOX 36187, LUSAKA+260-211-250202/4Lusaka
CAVMONT BANK LIMITEDCavmontP.O. BOX 32222, LUSAKA+260-211-224280/6/7Lusaka
CITIBANK ZAMBIA LIMITEDCitibankP.O. BOX 30037, LUSAKA+260 211 444492/93Lusaka
FINANCE BANK ZAMBIA LIMITEDFBZP.O. BOX 36762, LUSAKA+260-211-221808Lusaka
FIRST NATIONAL BANK ZAMBIA LIMITEDFNBP.O. BOX 36187, LUSAKA+260-211-366800Lusaka
FIRST ALLIANCE BANK ZAMBIA LIMITEDFABP.O. BOX 36326, LUSAKA+260-211-229303-6Lusaka
FIRST CAPITAL BANK ZAMBIA LIMITEDFCBP.O. BOX 32678, LUSAKA+260-211-368700Lusaka
INTERMARKET BANKING CORPORATION LIMITEDIntermarketP.O. BOX 35832, LUSAKA+260-211-227227-8Lusaka
INDO-ZAMBIA BANK LIMITEDIndo-ZambiaP.O. BOX 35411, LUSAKA+260-211-224653Lusaka
INVESTRUST BANK PLCInvestrustP.O. BOX 32344, LUSAKA+260-211-294682/5Lusaka
STANDARD CHARTERED BANK PLCStanchartP.O. BOX 32238, LUSAKA+260-211-229242-60Lusaka
STANBIC BANK ZAMBIA LIMITEDStanbicP.O. BOX 32111, LUSAKA+260-211-229285-6Lusaka
UNITED BANK FOR AFRICA UBAP.O. Box 36794, LUSAKA+260-211-255897Lusaka
ZAMBIA NATIONAL COMMERCIAL BANK PLCZanacoP.O. BOX 33611, LUSAKA+260-211-228979/82Lusaka

Requirements For Setting Up a Bank In Zambia

Do you plan to start you own Banks In Zambia? Probably to finance your own banking business. Well, here are the requirements to start a banking business in Zambia and procedure.

Banking business procedure and requirements to operate a financial banking institution in Zambia. The banking system of Zambia is regulated by the Bank of Zambia through a Banking and Financial Services Act (BFSA).

Its an original document drafted in 1994, to provide an institution authority to operate and execute banking privileges. Zambian Banks acquire licenses after making applications.

This ACT enables authority which includes regulating and supervision of a all the banks registered in the country. This is to ensure there is no violation affecting the financial echo system. It extends its objective to promote a safe environment for both institutions and the customers using banks.

Banking incenses to have a bank business in Zambia, is executed by the Registrar of Banks. Registrar of Banks gives incenses to those wanting to run a bank and any other financial Institutions. Registration can be done by visiting Registrar of Banks office situated at the main head office of Bank of Zambia, Lusaka.

How To Obtain A Bank License In Zambia
  • Clearance Of A Name: Formal submission of a proposed name is to be made to the company name registrar. To avoid any complications that may arise from conflicting of bank names. Any proposed name for a particular bank must be cleared, validated and approved. Approval of bank name is done by Registrar of Companies or Registrar of Societies if a formal written document.
  • Registration of Company at Patents (PACRA): Immediately the bank name has been approved, application must proceed to send application for registration. Particularly apply to patents and companies registration agency.
  • Informal Filling Stage With Applicants: A meeting is held with applicants to explain in detail the requirements, draft a feasibility strategy and proposal reveal. Major requirements are explained during this stage to future bank owners.
  • Submit A Formal Application: Submit a formal application to the registrar of banks, a thorough review is carried out to grant a license. From these top banks in Zambia Within 180 days applicants get a response telling them a response if the application was approved or denied.

Registrar of banks can choose to accept or deny approval of any applicant, based on a number of things. An application is considered completed having met the important requirement and a fee for license requirement paid.

  • Banking License Requirements: The following forms collected from Bank of Zambia must be filled in and completed. A Form BFI filled by the beneficiaries directors, chief executive officer, shareholders, etc as well as chief financial officers.
Banking Fees:
  • An application none-refundable fee of 50,000 units of fees K9,000,000 (current) to be paid during application.
  • Annual fee of 25,000 units of fees to be paid K4, 500, 000 (current) every year in the first month.

Commercial Banks In Zambia (Overview)

These are the best investment and Commercial Banks In Zambia that perform the following duties:

  1. Rendering best banking services to people of the country and government.
  2. To control license, supervising and regulate small financial institutions in Zambia. Ensure safe financial flow and operational transactions.
  3. Finally Commercial Banks manage currency conversions, payment systems, currency flotations and carry out operations of the central bank.

Image below shows a complete list for all Commercial Banks In Zambia

Top Banks in Zambia

Hence , you can immediately open a Bank account with any of these banks today. They provide extensive banking solutions and all types of bank accounts. You can register online, through a phone and preferably personal registration for good interest rates. Within minutes you can have a fully working bank account working under your name. YOU will be greatly helped by top banks in Zambia, since, you have known best banks in Zambia and their addresses.

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Top 10 Banks in UK

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Top 10 Banks in UK 2021
Top 10 Banks in UK 2021

Four banks (HSBC, Barclays, Lloyds and NatWest Group) dominate the sector yet there are approximately 350 banks in the United Kingdom, inclusive of 160 foreign deposit banking institutions. These are Top 10 Banks in UK 2021, representing the country’s banking sector, making it the fourth largest in the whole of Europe.

They also have 47 building societies who are allowed to accept deposits. The United Kingdom also boasts of the second oldest central bank in the world (the Bank of England), established on July 27 of 1694. Its impossible discussing about money, finance and banking without mentioning be top 10 banks in UK. Below is a list of the best banks in the UK in terms of total assets.

1. HSBC

This is the largest and best bank in the country as far as assets and market capitalization is concerned. HSBC operates about 3 600 branches and offices worldwide, employs more than 226 000 people and has over 40million clients. Key business areas for these top 10 banks in UK 2021 are: commercial and private banking, retail banking, wealth management, global banking and market. As of December 2020, HSBC was worth about USD3 trillion in total assets.

2. Barclays

Barclays is a very popular bank worldwide, arguably even more than HSBC, though it sits on the position of second best in the UK. For your corporate banking, wealth management, foreign exchange, insurance, savings and current accounts, mortgages, credit and debit cards, money transfer, online banking and other services; Barclays offers all through one of the largest branch and ATM network in the country. The company’s Headquarters is in London and it employs over 84 000 people. In 2020 they made a revenue of USD30 billion and a net income of USD3.3 million.

3. Lloyds Banking Group

In third position is a banking group whose main line of business is retail and commercial banking, life and non-life insurance, pension and investment services. The company has subsidiaries namely; Lloyds Bank, Bank of Scotland, Scottish Widows, Lloyds Development Capital, Agricultural Mortgage Corporation, Black Horse Ltd and Lex Autolease among others. The company was established in 1765 and is listed on the London and New York stock exchange.

4. NatWest Group

NatWest Group was formerly RBS Group and has its headquarters in Edinburgh. This banking and financial services provider has about 60 000 employees and 19 million customers. The company’s subsidiaries are well-known brands including NatWest, Royal Bank of Scotland, Uster Bank, Coutts, Adam and company, Child and co, Drummonds, Isle of Man Bank, Lombard and Holt’s Military Banking. For the year ended December 31 of 2020, the group recorded £10.8 billion in revenue and £44 billion in total equity.

5. Standard Chartered

Standard Chartered plc is a global financial services organization which operates in over 60 markets and has more than 1 000 branches. Its banking services include wholesale and consumer including deposits, personal and business loans, wealth management, auto finance, mergers and acquisition advisory, online banking, international money transfer and more. Standard Chartered was named “Best Consumer Digital Bank” by Global Finance.

6. Santander UK

This is the largest foreign bank and third largest mortgage lender in the UK. Santander UK plc is also the fifth largest commercial lender in the country. It offers savings and investment, accounts, mortgage loans, car loans, business lending, insurance as well as a range of credit cards including everyday credit card, all in one credit card, zero credit card and Santander World Elite Mastercard.

7. Nationwide

This one is the largest building society in the country and it is based in Swindon, Sout West England. Swindon Building Society is also the largest in the world and employs approximately 18 500 people and stretches its service to over 16 million members. Swindon offers savings and current accounts, mortgages, personal loans, credit cards, retirement and investment services. For the year ended in April 2020 the company reported a profit after tax of £365 million.

8. Virgin Money

Virgin Money plc is the eighth largest bank in the UK by assets and offers an array of products and services. They provide cash ISAs, stocks and shares ISAs, fixed terms accounts, unit trusts, life and travel insurance, auto insurance, pension and retirement products, international money transfers, commission-free currency, travel credit cards, all round and purchase credit cards, prepaid cards, online and telephone banking to metion a few. The company trades on the London Stock Exchange and the Australian Securities Exchange (SAX)

9. Investec

This is a specialist bank and investment manager which offers private, corporate and investment banking, wealth and asset management, advisory services, securities trading and more. It trades on the Johannesburg and London stock exchanges with a market capitalisation of USD3.1 billion as of March 31 of 2021.

10. The Co-operative Bank

This bank is British and based in Manchester. It is a retail and commercial bank which offers current and savings accounts, consumer and mortgage loans, credit cards, insurance, prepaid funeral plans, financial planning, investments, project finance, treasury services, and mobile and online banking. Most of these top 10 banks in UK 2021 are covered by Financial Services Compensation Scheme (FSCS) which pays compensation if financial services firms fail.

Types of Bank Accounts in Nigeria

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Types of Bank Accounts in Nigeria
Types of Bank Accounts in Nigeria

Each country has a banking system of it’s own and regulations that determine which types of bank accounts can be opened in any of the banks operating in that country. Types of Bank Accounts in Nigeria, explained in this article show how much Nigerians have the liberty to, not only choose from numerous banks, but also from seven types of bank accounts.

The world is going digital and in most cases doing away with hard currency, such that having a bank account is now more of a necessity than a choice. Consequentially authorities and banks are forced to avail a variety of bank accounts to suit conditions of every economical class level.

Top 7 Types of Bank Accounts in Nigeria In 2021

This writer wishes to bring readers to the understanding that, before going to any bank to open an account for what ever reason, they need to know which type of bank accounts best suits the purpose of its opening. In the case of Nigeria, the seven choices are:

1. Savings Account

This is arguably the most common type of account worldwide by virtue of it being the choice of the salaried population demographic. The savings account is also popular because of affordability given the money needed to open one is always low and sometimes it is free. It is a type of account where the money you deposit accumulates interest though the rates are always low. There are also limited number of transactions permissible with this type of account.

2. Current Account

This one is the traders and entrepreneurs who need to; access their money from time to time, withdraw large sums of money and do multiple transactions. When you open a current account, in most cases a cheque book is issued. Money in a current account does not accumulate inerest and the cost of opening and maintaining a current account is relatively higher than a savings account.

3. Fixed Deposit Account

With this type of account, money is deposited for a period of time known as a term. The account holder can not have access to that money until the term ends. In Nigeria, terms are from a minimum of 30 days to a maximum of 180 days. Money in a fixed deposit account accumulates significant interest and is ideal for people saving up for big projects or investments.

4. Joint Account

As the name implies, a joint account is one that is opened in the name of two or more; all signatories to the account. In this type of account, no individual can make decisions concerning the account without the consent of other signatories. Joint accounts are common among business partners and married couples and in Nigeria there are two subtypes of joint accounts. The first one is the “joint-tenancy” which is the one used by couples mostly then the tenants-in-common being the choice for business partners for accountability purposes.

5. Domiciliary Account

A domiciliary account is a special type meant for foreign transactions and can accept foreign currency and send money into other countries. This account is common with big corporates that import and export goods.

6. Corporate Account

This is an account opened by big entities, usually multinational corporations. Corporate accounts are way more superior to personal or investment accounts and it is opened for business purposes.

7. Non-resident Nigerian Account

This is the account for patriotic Nigerians living in the diaspora and want to have an account at home. Non-resident Nigerian accounts make it easy for families in different countries to reach out to each other financially through Types of Bank Accounts in Nigeria.

Due diligence is needed when one is opening a bank account to avoid unnecessary inconveniences when trying to access financial services.