LUSAKA - Zambians are becoming more optimistic about their financial future, but many households continue to face cost-of-living pressures, limited access to affordable credit and growing digital fraud risks, according to the latest TransUnion Zambia Consumer Pulse Survey for the first quarter of 2026.
The survey found that 40 percent of consumers reported earning more than they did a year earlier, up from 34 percent in 2025, while 84 percent expect their incomes to increase over the next 12 months.
TransUnion Zambia Chief Executive Officer Mildred Stephenson said the findings suggest that consumers are becoming more disciplined in managing their finances through long-term planning, budgeting and greater attention to affordability.
However, Ms. Stephenson noted that many households continue to rely on various coping mechanisms to meet their financial obligations despite early signs of income stabilisation.
More than one-third of respondents said they expect to be unable to pay at least one bill or loan in full, with some relying on temporary work, partial payments, borrowing from relatives or personal savings to manage their financial commitments.
The survey also found that demand for credit remains strong, with 41 percent of consumers planning to apply for new credit or refinance existing loans within the next 12 months.
Personal loans were the most sought-after form of credit, followed by student financing and vehicle loans.
Despite the demand, many consumers remain hesitant to seek credit because of high borrowing costs, concerns that their income may not meet lenders' requirements and doubts about whether refinancing would provide meaningful financial relief.
Digital fraud also emerged as a major concern, with 81 percent of consumers reporting that they had been targeted by at least one online scam during the three months preceding the survey.
Common threats included phishing, smishing, vishing, gift card scams and fraudulent online sellers.
In response, many consumers reported taking steps to improve their online security, including changing passwords and enabling multifactor authentication.
However, 17 percent said they had taken no protective measures, either because they did not know what steps to take or felt overwhelmed by the amount of cybersecurity information available.
Ms. Stephenson said the findings highlight the need for financial institutions to improve access to affordable credit while strengthening consumer education on financial management and cybersecurity.
She added that as digital threats continue to evolve, simple and accessible fraud prevention tools, combined with greater public awareness, will be essential in helping consumers protect themselves and build long-term financial resilience.