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Tuesday, June 6, 2023

88% of country’s population now financially included

Story by Davison Vandira

MORE than 80% of the country’s adult population has access to financial services, confirming the success of the country’s financial inclusion drive.

The 2022 Financial sector survey report unveiled in Harare this Tuesday reveals a steady growth in terms of the population’s financial inclusion, from 60 per cent in 2011 to 88 % this year.

“These survey results for consumers and MSMEs are meant to improve wealth creation, equitable income distribution, improve people’s welfare as well as strengthening the country’s financial system stability to have a productive society with easy access to services,” said Finmark Trust representative, Obert Maphosa.

Reserve Bank of Zimbabwe Deputy Governor, Jesmine Chipika welcomed the survey results produced by a local organisation, Finmark Trust, highlighting how financial inclusion is key towards national development.

“These statistics on Zimbabwe’s progress on financial inclusion are very important in keeping the RBZ on its toes with regards to what needs to be done to financially include all the country’s productive population, which is critical in driving the wheels of the economy towards targeted milestones,” said Dr Jesmine Chipika.

The Reserve Bank of Zimbabwe (RBZ) is underpinning economic growth on financial inclusion, hence the implementation of the financial inclusion policy.

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