ABSA Bank Says Innovations Keys To Competitiveness
ABSA Bank Zambia Chief Executive Officer Mizinga Melu says innovation remains a priority for the institution to remain competitive, relevant and responsive to evolving customer needs.
Ms Melu said this on Friday at the launch of Absa Gen-AI-Thon 2026, an initiative aimed at fostering innovation, digital capability and the practical application of artificial intelligence to address real business and customer challenges.
The hackathon focuses on pushing technological boundaries, advancing generative AI applications and bringing together innovators to align with the bank's broader initiative of utilising practical AI to solve local challenges and enhance customer experiences across the region.
“For us, innovation is simply about finding better ways to do things. It means making banking easier for our customers, helping our colleagues work more effectively, managing risk better and creating new opportunities for growth,” Ms Melu said.
She emphasised that the Gen-AI-Thon serves as a practical proof point of the bank's commitment to building a modern financial institution.
Ms Melu said the initiative brings together university students, fintech innovators, internal staff, technology partners and regulators to address real-world financial challenges.
“As we innovate, we must also protect the trust our customers place in us. Innovation must remain responsible, secure and aligned with the needs of our customers and the wider financial system,” she added.
Absa, part of Absa Group, South Africa's third-biggest lender by assets, recently won two awards at the Middle East & Africa Retail Banking Innovation Awards 2026, recognising the bank's progress towards becoming a digitally led institution through initiatives focused on strengthening cyber defence and simplifying customer onboarding.
Meanwhile, Absa director of digital and technology transformation Owen Malambo noted on Friday that artificial intelligence (AI) is rapidly altering how modern institutions operate.
SMART Zambia Institute national coordinator Percy Chinyama called for an acceleration of the nation's digital transformation.Mr Chinyama said the country had entered a strategic paradigm shift in governance, driven by corporate-style results and quantifiable targets.
“Traditionally, Government was just providing an enabling environment. But now we enable and deliver. The corporate way of running an outfit has now come into government. We are in a paradigm shift where results have become the primary focus,” he said at the event.