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By Ross Moyo
In a move expected to increase use of the Zimbabwe Gold (ZiG) currency, enhance digital transactions, tax collections, and foster financial inclusion, the Zimbabwe government has intergreted unregistered businesses into the formal economy by distributing Point of Sale (POS) Machines.
According to the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), the majority of business centres across the country have the necessary infrastructure to support POS machines, including power and internet connectivity hence government’ supply of the pos machines is falling on fertile ground.
Where connectivity or power supply is unreliable, businesses are even being issued with offline-compatible POS machines, which do not require a constant network connection, ensuring that remote areas are also included in this implementation matrix of pos machines.
By Ross Moyo
“We are pleased that local authorities and the Postal and Telecommunications Regulatory Authority of Zimbabwe have confirmed that most business centres have the minimum infrastructure to support POS machines,” confirmed Reserve Bank of Zimbabwe Governor Dr John Mushayanhu following his Monetary Policy Statement in feb 2025.
“In addition, most small businesses are also running on solar units, which can easily support POS machines. Importantly, some POS machines do not require network connectivity and can work offline, and these can be prioritised to the most remote areas.
“Further, the Reserve Bank is working with mobile network operators and service providers to ensure that the POS services are accessible across the country.”
Increasing tax collection and formalising businesses is a key enabler in improving the country’s economy.
“It is important to note that some small mobile POS machines can be shared among businesses. In this regard, small businesses will be provided with mobile POS machines, each linked to a unique bank account code, and this will be able to cover many businesses.
“As you are aware, all POS machines are operated through the banking system, so banks are a crucial partner in this initiative,” Dr Mushayavanhu said.
“In line with the Reserve Bank’s Monetary Policy Statement of February 6, 2025, banks were directed to provide POS machines to all business account holders, whether new or existing,” the RBZ Governor maintained his stance on the POS machines.
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