Industry Guide: Finance Employment in Lusaka
An overview of the employment landscape, key hiring entities, and professional pathways within capital markets, asset management, pensions, insurance, and specialized corporate finance—completely excluding commercial retail and corporate banking.
1. Types of Jobs Available
- Investment Analysts & Portfolio Managers: Professionals who research equity, debt, and alternative assets, build valuation models, and manage investment portfolios for private clients, corporate funds, and trusts.
- Actuaries & Risk Analysts: Highly quantitative specialists who use mathematical and statistical models to analyze risk, set pricing for insurance policies, and calculate pension fund liabilities.
- Corporate Finance & Treasury Managers: Internal financial strategists within commercial companies (FMCG, mining, agriculture) who oversee capital structures, execute mergers and acquisitions, manage cash flow, and secure corporate funding.
- Microfinance & Credit Specialists: Professionals working in non-bank financial institutions (NBFIs) who evaluate business credit, manage loan portfolios, and structure micro-credit packages.
- Fintech & Mobile Money Product Specialists: Non-bank digital transaction professionals focusing on expanding mobile wallet networks, designing electronic payment pathways, and driving merchant integrations.
2. Industry Structure & Regulators
To navigate non-bank finance in Lusaka, it helps to understand how the sector is split. Three regulatory authorities oversee different corners of the market:
┌─────────────────────────────────────────┐
│ Ministry of Finance (MoFNP) │
└────────────────────┬────────────────────┘
│
┌─────────────────────────────┼─────────────────────────────┐
▼ ▼ ▼
┌─────────────────┐ ┌─────────────────┐ ┌─────────────────┐
│ Bank of Zambia │ │ Securities and │ │ Pensions & │
│ (BoZ) │ │ Exchange Comm. │ │ Insurance │
│ │ │ (SEC) │ │ Authority (PIA) │
├─────────────────┤ ├─────────────────┤ ├─────────────────┤
│ • Microfinance │ │ • Asset Mgmt │ │ • Pension Funds │
│ • Mobile Money │ │ • Brokerage │ │ • Life/General │
│ • Leasing/Forex │ │ • Capital Mkts │ │ Insurance │
└─────────────────┘ └─────────────────┘ └─────────────────┘
3. Key Hiring Entities in Lusaka
| Hiring Entity | Focus Area | Regulatory Umbrella | Key Offices / Location |
| National Pension Scheme Authority (NAPSA) | The largest institutional investor and pension fund manager in Zambia | PIA | Levy Business Park, Lusaka |
| Madison Asset Management (MAMCo) | Wealth management, collective investment schemes (unit trusts), and private portfolios | SEC | Ridgeway, Lusaka |
| Airtel Money / MTN Mobile Money | Mobile wallets, digital micro-lending, payments, and agency network management | BoZ | Great East Road / Longacres, Lusaka |
| Pangaea Securities | Stockbrokerage, investment banking advisory, corporate restructuring, and capital raising | SEC | Great East Road, Lusaka |
| Professional Life / Sanlam Insurance | Underwriting corporate and retail risk, long-term life and health coverage | PIA | Rhodes Park, Lusaka |
4. Qualifications & Career Entry Paths
Because non-bank finance is highly diverse, the credentials you need depend on your target sub-sector:
A. Investment Management & Capital Markets (SEC Stream)
To manage public funds, trade shares on the Lusaka Securities Exchange (LuSE), or provide investment advice, you must be licensed by the SEC.
- The Gold Standard: The Chartered Financial Analyst (CFA) designation is highly sought after for senior asset management and equity research roles.
- Zambia Association of Investment Professionals (ZAIP): Networking and local professional standing are heavily driven through this body.
B. Pensions & Insurance (PIA Stream)
- Actuarial Route: Becoming an actuary requires clearing professional exams from international bodies like the Institute and Faculty of Actuaries (IFoA) or the Society of Actuaries (SOA).
- Insurance Route: A Diploma or Degree in Insurance and Pension Management (offered by institutions like the Zambia Insurance Business College Trust – ZIBCT) is the standard entry path for underwriting and claims management.
C. Non-Bank Microfinance & Corporate Finance
- Educational Foundation: A Bachelor’s Degree in Economics, Financial Mathematics, or Corporate Finance provides the essential analytical foundation.
- The Corporate Path: If you want to run corporate treasury inside a non-financial multinational, global accounting/finance credentials like CIMA (with its strong focus on business strategy) or ACCA are highly valued.