By Jonathan Mbiriyamveka
When the People’s Own Savings Bank (POSB) set out on its digital transformation journey, the goal was simple: make banking accessible to every Zimbabwean, regardless of where they live or how much they earn.
Three years into its Transformation Strategic Plan, the results are nothing short of remarkable. The bank’s agency banking network has exploded from just 54 agents in 2024 to 914 today – a staggering 1,600% increase that has added approximately 860 new touchpoints across the country. Total access points now stand at 978, a 9.7-fold increase since 2024.
“We have shifted from a product-centric approach to a customer-centric model, placing customer needs, experiences and expectations at the centre of our operations,” POSB noted in a recent statement.
Digital Adoption Surges
The numbers tell a compelling story of a bank that has embraced the digital future. Digital adoption reached 84% in 2025, reflecting the success of POSB’s strategic thrust towards proximity banking. While the physical branch network has remained flat at 32 branches, agency banking has become the bank’s primary growth engine.
The bank’s investment in technology has been substantial. The Board approved US$8.2 million for operating and capital expenditure covering core technologies, software, and IT operating costs. This investment is already yielding results – the bank has maintained stable uptime across its core banking system, Zimswitch, ATMs, and digital channels despite challenges such as power outages and network disruptions.
Innovative Products Driving Inclusion
One of the most transformative initiatives has been the launch of Huruyadzo/Inkunzi, Zimbabwe’s first mobile-based group savings platform. The solution formalises traditional group savings practices, commonly known as Mukando, by providing a secure, transparent and digitally managed system that prevents unauthorised access to group funds.
“Our Huruyadzo/Inkunzi initiative brings greater transparency, shared control, and accountability. This means no one can access or withdraw the group’s money without the knowledge and approval of other group members,” POSB stated.
POSB chief executive officer Garainashe Changunda said the platform is meant to meet the savings needs of every Zimbabwean.
“We are formalising Mukando in a secure and transparent manner so that no individual can spend or put the group’s hard-earned savings at risk without the knowledge and approval of other members,” he said.
What makes Huruyadzo truly transformational is its accessibility. Anyone with a mobile phone can use it – without a smartphone, without internet access, and even without a POSB account.
Strengthening Financial Inclusion
The digital push is complemented by strategic partnerships that extend the bank’s reach. POSB has partnered with OneMoney and other mobile money platforms to enhance its wallet-on-POS solution, ensuring that even customers without smartphones or internet access can join the digital banking ecosystem.
The bank’s strategy execution index stood at 83.5% as at 30 June 2026, with full deployment of core systems targeted for completion by 31 December 2026.
This progress is reflected in the bank’s customer base, which grew from 649,355 accounts in December 2025 to 663,357 by June 2026.
Looking Ahead
POSB’s digital transformation is creating a modern, digitally inclusive financial institution that is well-positioned for the future. As Changunda noted, “At POSB, financial inclusion is not a slogan, but it is our mandate”.
The journey from 54 agents to 914 is a testament to what is possible when a bank commits to serving every Zimbabwean, regardless of location or income. It is a digital revolution that is bringing financial services closer to the people – one agent, one transaction, one life at a time.
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