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Zimbabwe’s Central Bank has launched a strategy that aims to make banking services attractive to the majority unbanked population by 2020.
A 2014 survey showed that only 30 percent of the country’s adult population made use of banking services.
Company closures have pushed many onto the streets, spawning a growing informal sector.
With just 14 percent of SMEs banked, this could be a ripe market.
The central bank has already called on banks to scrap charges on what it terms no frills services such as deposits and withdrawals.
It has also called on more innovation, particularly in integrating emerging mobile payment platforms.
CCTV’s Farai Mwakutuya with that story.
