Zambia Regulatory Pack
mfi_reg_zambia targets institutions licensed under the Banking and Financial Services Act 2017 by Bank of Zambia, specifically Microfinance Service Providers (Tier I deposit-taking and Tier II non-deposit).
BoZ NBFI returns
BoZ requires monthly returns from Tier I MSPs and quarterly from Tier II. The portal accepts XBRL-formatted XML.
| Return | Tier | Frequency |
|---|---|---|
| MSP-1 prudential | Tier I | Monthly |
| MSP-2 prudential | Tier II | Quarterly |
| MSP-LE large exposures | Both | Monthly / Quarterly |
| MSP-AQ asset quality | Both | Quarterly |
| MSP-A annual audited | Both | Annual |
FIC Zambia
Financial Intelligence Centre Act 2010. CTR threshold ZMW 50,000 single or aggregated. STR on reasonable suspicion. Portal accepts goAML XML 5.0.
ZRA tax
Zambia Revenue Authority. WHT on interest 15% residents, 20% non-residents. Corporate tax 30% (35% for MFIs above ZMW 250M turnover).
CCPC consumer protection
Competition and Consumer Protection Commission. The pack ships the disclosure templates the CCPC mandates: APR disclosure, total cost of credit, complaints procedure.
Worked scenarios
Scenario — Lusaka Microfinance files February MSP-1
| Character | Role |
|---|---|
| Mary Mutua | Compliance Officer |
| Aisha Hassan | CFO |
| Kimani Mwangi | Board Risk Chair |
Timeline
- 28 Feb, 23:59: Feb books closed. (Net loans ZMW 184M, deposits ZMW 96M.)
- 1 Mar, 02:00: MSP-1 scaffolded. (State=open.)
- 3 Mar, 09:00: Mary pulls return. (CAR 13.8%, liquidity 22.4%.)
- 4 Mar, 10:00: Engine flags one large exposure at 26%. (Cap 25%; exception raised.)
- 5 Mar, 14:00: Restructured via cross-collateralisation. (Exposure recomputed 23%; clear.)
- 8 Mar, 10:00: Aisha signs. (State=ready.)
- 9 Mar, 15:00: Kimani counter-signs and lodges via BoZ portal API. (Reference MSP1-2026-02-LM-0033.)
- 12 Mar, 11:00: BoZ acceptance webhook fires. (State=accepted.)
Outcome — MSP-1 lodged on time. Large-exposure remediation prevented a likely BoZ Section 41 directive.
Reference
BoZ minimum prudential ratios
| Ratio | Tier I | Tier II |
|---|---|---|
| Core capital adequacy | 10% | 5% |
| Total capital adequacy | 15% | 10% |
| Liquidity | 20% | 10% |
| Single borrower exposure | 25% of capital | 25% |
| Aggregate large exposures | 800% of capital | 500% |
Troubleshooting
| Symptom | Likely cause | Fix |
|---|---|---|
| BoZ portal upload returns XBRL validation error. | Pack still on XBRL taxonomy 2023; BoZ moved to 2025. | Upgrade mfi_reg_zambia to >=18.0.2.1.0. |
| CCPC APR disclosure shows different APR than loan offer letter. | Two different APR computation methods (declining balance vs. flat). | Settings > Loan Products > APR method, set to ccpc_declining_balance for Zambian products. |
| FIC CTR not triggering above ZMW 50,000. | Threshold parameter still set to default KES 1,000,000. | Settings > MFI > AML thresholds, set Zambia CTR to 50000. |