In the first quarter of 2020, the COVID-19 pandemic gravitated to many countries in the globe and sent several economies into sporadic lockdowns. For Zambia, the pandemic exacerbated existing economic vulnerabilities and drove the economy into a recession. The Bank of Zambia (BOZ), like other arms of Government, instituted complimentary measures to safeguard financial system stability, promote the use of digital financial services and mitigate the negative impacts of the pandemic on the economy.