Updated: Dec 20, 2019
Zambia’s Central Bank created a regulatory sandbox for the FinTech company Zazu, a completely digital bank. The Central Bank also simplified the regulatory hurdles for another Zambian FinTech company, Zoona (Mlambo, 2017).
A regulatory sandbox is a unique concept that has found its place in the FinTech sector. A FinTech startup is able to operate within the sandbox to customised regulations and without having to move through the full authentication process established by the relevant Regulators.