Legal Framework & Compliance

Updated July 2025

Zambian Legal Framework Protecting Kaspatec ZM

Kaspatec ZM operates as a financial technology company providing user-friendly accounting solutions for small and medium enterprises (SMEs) and mobile money operators in Zambia. The following key Zambian laws and regulations enable and protect our operations, ensuring compliance and fostering a secure environment for our services.

Core Regulatory Framework

Banking and Financial Services Act No. 7 of 2017 (BFSA): This act regulates the licensing and provision of financial services in Zambia. As a fintech company offering services like automated invoice generation, financial statement production, and mobile money transaction tracking, Kaspatec ZM complies with BFSA requirements for non-bank financial institutions.
National Payment Systems Act No. 1 of 2007 (NPSA): The NPSA governs the safety and reliability of payment systems, including mobile money and electronic transactions. Kaspatec ZM's integration with mobile money platforms adheres to BoZ directives, ensuring secure and dependable transaction processing for our users.
Data Protection Act No. 3 of 2021: This act mandates the secure collection, storage, and processing of personal data. Kaspatec ZM complies by storing user data on local Zambian servers, obtaining user consent for data processing, and implementing encryption and security measures to protect sensitive financial information.
Cyber Security and Cyber Crimes Act 2021: Kaspatec ZM employs robust cybersecurity measures, such as multi-factor authentication and regular security assessments, to safeguard our platform against cyber threats.
Companies Act No. 10 of 2017: Kaspatec ZM is registered with the Patents and Companies Registration Agency (PACRA), ensuring compliance with corporate governance standards and fostering transparency in our operations.
BoZ Regulatory Sandbox Guidelines: The Bank of Zambia's sandbox framework allows Kaspatec ZM to test innovative features in a controlled environment while ensuring regulatory compliance.

Microfinance Regulations

Kaspatec ZM's soft loans management feature operates under Zambia's microfinance regulatory framework:

Microfinance Act No. 19 of 2006: Provides the legal framework for microfinance operations, including lending activities for small businesses and individuals.
BoZ Microfinance Guidelines: Establishes operational standards for microfinance institutions, ensuring responsible lending practices and consumer protection.
Interest Rate Regulations: Kaspatec ZM complies with BoZ guidelines on maximum interest rates and fee structures for microfinance services.

Mobile Money Integration Compliance

Our integration with mobile money platforms is governed by specific Zambian regulations:

Electronic Money Issuance Directives 2018: Ensures secure and compliant mobile money transactions.
Mobile Payments Guidelines 2019: Establishes standards for mobile payment processing and user protection.
Anti-Money Laundering (AML) Regulations: Kaspatec ZM implements AML procedures in accordance with BoZ requirements.
Know Your Customer (KYC) Requirements: We maintain proper customer identification procedures as mandated by Zambian financial regulations.

Consumer Protection Framework

Kaspatec ZM operates under Zambia's consumer protection framework:

Consumer Protection Act No. 24 of 2010: Ensures fair business practices and consumer rights protection.
Financial Services Consumer Protection Guidelines: BoZ guidelines specifically protecting users of financial services.
Dispute Resolution Mechanisms: Clear procedures for handling user complaints and disputes.
Transparency Requirements: Clear disclosure of fees, terms, and conditions for all services.

Contact Information

For legal questions, compliance inquiries, or regulatory matters, please contact our legal team:

Email: legal@kaspatech.com

Support: support@kaspatech.com

Response Time: We respond to legal inquiries within 3-5 business days.

Policy Updates

This legal information may be updated periodically to reflect changes in Zambian regulations. We will notify users of significant changes via email or through our platform notifications.

Last Updated: July 2025