Sustained usage, next financial inclusion phase
STAFF WRITER
Financial inclusion in Zimbabwe needs to progress from mere access to sustained usage, affordability, and platform reliability in an effort to deliver practical benefits to formerly excluded members of society, it has been learnt.
Zimbabwe has made important progress in financial inclusion, with access to financial services now estimated at 88% but the impact has been minimal.
Speaking at the Zimswitch Payments Forum 2026 in Victoria Falls last week, ZB Financial Holdings chief transformation officer Kangai Maukazuva said financial inclusion can move beyond account ownership or providing platforms and shift towards sustained digital payment adoption by addressing affordability, usability, trust, customer experience and ecosystem collaboration.
“Access alone is not sufficient; sustained usage, affordability, and platform reliability remain critical measures of inclusive financial impact.Charting a new way forward to increase usage is essential, because usage is a key indicator that financial inclusion is delivering practical benefits to formerly excluded members of society,” Maukazuva said.
According to Global Findex 2025, four in every five adults gained access to financial platforms in 2025.
He said reviewing the next phase of the financial inclusion agenda is therefore necessary to define a clearer strategic direction.
According to him, the 2026 global trends shaping financial inclusion highlighted the tension between expanding access and declining donor funding.
“The shift in United States donor funding, including reduced support from USAID and UNICEF, has affected subsidies that previously supported underprivileged communities and may reduce transaction volumes among segments that benefited from financial inclusion initiatives,” Maukazuva stated.
He said key contributions from the deliberations included the following: transition from low know your customer (KYC) to multi-stage full KYC to help platforms build minimum datasets for improved AI-driven targeting and customer segmentation.
The technology expert noted that there is a need to move away from a one-size-fits-all approach that will require better use of data to develop targeted innovations based on usage patterns.
“Financial service providers should innovate around clearly defined ecosystems and create relevant value within identified value chains, based on usage and consumption patterns,” Maukazuva added.
He called for the need to build trust through convenience and faster processing.
To increase the usage, Maukazuva said financial service providers need to make products affordable.
“Mobile money acceptance is being undermined by top-up fees charged by some agents or merchants, which makes transactions less affordable and weakens trust in mobile money as a preferred payment option,” Maukazuva said.
He implored the financial inclusion products and services to be designed with universality and diversity in mind, including the needs of persons with disabilities.