Online Reporter
Michael Tome
Business Reporter
THE People’s Own Savings Bank (POSB) has entered into a strategic partnership with AFC Insurance Company, marking a significant step in its quest to expand integrated financial solutions for its customers across Zimbabwe.
Through the bancassurance partnership, POSB will provide customers with access to a comprehensive range of insurance products, including agriculture insurance covering both crop and livestock, loan protection for agricultural financing, stock and related assets insurance, as well as goods-in-transit cover.
The collaboration highlights POSB’s commitment to strategic partnerships to enhance service delivery and provide customers with convenient, accessible and innovative financial solutions.
POSB is one of Zimbabwe’s oldest and key financial institutions that specialises in the provision of various products, including savings, loans and corporate banking services.
AFC Insurance Company is a specialised Zimbabwean insurance services provider wholly owned by the Government through agriculture-focused AFC Holdings.
Both entities fall under Mutapa Investment Fund, Zimbabwe’s sovereign wealth administrator.
The partnership therefore shows the growing importance of intra-group collaboration in unlocking synergies, strengthening institutional capacity and creating greater value for customers.
As entities operating within the same ecosystem, POSB and AFC Insurance are strategically positioned to pursue further partnerships that enhance cooperation and shared value creation across the group.
The collaboration strengthens the capabilities of both institutions while setting a foundation for deeper integration and improved service delivery.
POSB and AFC Insurance remain aligned with national development priorities.
Through this partnership, the two entities are better positioned to contribute towards the objectives of National Development Strategy 2 (NDS2), particularly in advancing financial inclusion, supporting agricultural development and building economic resilience.
