Despite rising inflation, housing costs, and economic uncertainty, Zambian consumers are demonstrating remarkable financial resilience. TransUnion’s Q2 2025 Consumer Pulse Study reveals strong optimism about household finances and careful money management strategies.

Key Insights from the Study:

79% of Zambians feel confident about their finances over the next 12 months.

34% reported an increase in household income in the past three months.

35% anticipate difficulty paying bills in full, though nearly half plan to pay partial amounts.

76% were recently targeted by fraud but successfully avoided losses.

Spending, Saving, and Credit Trends:
Zambians are prioritizing essential expenses while trimming non-essential costs. Over the past quarter:

55% reduced discretionary spending, 44% cut digital services, and 41% cancelled subscriptions.

38% paid down debt faster, and 25% increased emergency savings.

Access to credit remains a key focus, with 94% of consumers viewing credit products as essential to achieving financial goals. However, only 42% feel they have sufficient access. Popular credit products include personal loans, refinancing, buy-now-pay-later services, and student loans. Rising interest rates significantly impact credit decisions, with 56% citing them as a major factor.

Fraud Awareness on the Rise:

Fraud concerns continue to shape consumer behavior. Top worries include identity theft (50%), credit card fraud (46%), and data breaches (40%). High-risk methods include fake social media profiles, email phishing, and malware attacks.

“Zambian consumers are navigating economic challenges with optimism and prudence,” said Mildred Stephenson, CEO of TransUnion Zambia. “Empowering consumers with access to credit and robust fraud protection will be vital for sustained financial resilience.”