Impact of Microfinance Institutions on Services Offered by Commercial Banks in Zambia

This article is exploring the evolving dynamics that exist between microfinance institutions (MFIs) and commercial banks in the banking financial services sector in Zambia. This article helps to analyze the contributions that the Microfinance Institutions have made to the financial inclusion and how their presence has influenced service innovations, competition and market expansion in the formal banking sector. The findings of the research have highlighted the complementary roles of these institutions and their collective impact on Zambia's financial landscape.