ICT-driven financial solutions are the future: Minister

Business Reporter
MINISTER of Information Communication Technology (ICT), Postal and Courier Services, Dr Jenfan Muswere, has said that digital solutions hold the key to achieving financial inclusion, which is critical towards realising an upper middle-income economy vision by 2030.

Prior to digital solutions, funds would find their way into outlying towns and villages through the use of undocumented and unquantifiable means.

Cyclists, bus drivers and their conductors had for a long time become quasi-bankers and money transfer agents as they transport these funds to their final destination outside the formal channels.

Guided by the National Development Strategy (NDS1:2021-2025) the Government has identified digital solutions among national goals that are aimed at stimulating economic growth.

This makes facilitating universal access to ICTs imperative, especially at community level including villages and Zimbabwe is already making strides towards this ideal, said Dr Muswere.

“Our goal is to drive a digital economy to improve the livelihoods of all Zimbabweans, regardless of location. Access to ICTs is poised to have a more profound impact on developing smart economies,” he said.

“Smart financial services are now at the door-step of every Zimbabwean. My ministry will ensure that all citizens are given the convenience that they deserve through ICT driven financial services that delivers upon the promise of innovation.”

Last Friday the minister officiated at the launch of the “OneMoney Remit” a new service product by State-owned mobile network operator NetOne, which facilitates forex domestic remittances from city to city and city to rural through mobile devices.

As such, Dr Muswere stressed the need to bridge the digital divide between urban and rural through provision of ubiquitous infrastructure connectivity and support systems.

He commended NetOne for provision of mobile financial services and continued efforts to widen its network. “Financial services are a key enabler of economic activity.

In the transport sector they talk of a road as an economy, in ICT we believe that OneMoney Remit is an economy,” said Dr Muswere.

“We are proud that solutions such as OneRemit will plug out these nefarious practices and bring this national asset, which is hard earned foreign currency back into the formal sector, as well as ensure that the transacting public does so through secure means.

“Well done NetOne for your consistency in delivering innovation.”