By 
Deputy Governor of the Reserve Bank of Zimbabwe Dr Jesimen Chipika remarked how the Zimbabwe’s microfinance sector is embracing digitalization during the 3rd Microfinance Tech Summit being held in Harare.
“Digitalisation holds the key to unlocking the full potential of microfinance,” Dr. Chipika said. By leveraging digital tools, microfinance institutions can enhance accessibility, efficiency, and outreach.
Digitalization offers numerous benefits, including reduced operational costs, improved risk management through machine learning and AI, and data-driven decision-making using alternative data sources. This enables microfinance institutions to provide affordable products and services, improve customer experience, and scale up sustainable services.
She explained that, “Zimbabwe’s digital financial services landscape is growing, with mobile money platforms like EcoCash, One Money, and others reducing dependence on physical banking infrastructure”.
By embracing digitalization, Zimbabwe’s microfinance sector can drive financial inclusion to unprecedented levels, empowering marginalized and low-income populations.
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