Zimpapers Business Hub
THE People’s Own Savings Bank (POSB) has been honoured for the second consecutive year at the Sustainable Development Goals (SDG) Awards, organised by the World Savings and Retail Banking Institute and the European Savings and Retail Banking Group (WSBI-ESBG).
The prestigious event took place on October 16, 2026, in Bangkok, Thailand, alongside the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.
POSB received the award in the category of Excellence in Economic Growth and Empowerment. This follows its triple-win success at the inaugural 2025 SDG Awards in Washington, DC, where it was recognised for customer education, digital transformation and inclusive banking.
The ceremony celebrated POSB and 54 other member institutions globally for advancing economic prosperity, social and financial inclusion and environmental responsibility under the United Nations’ 2030 Agenda.
WSBI-ESBG chief executive officer Mr Peter Simon commended members for remaining steadfast in advancing sustainable development, climate action, and inclusive growth despite global political shifts.
POSB’s recognition stems from the successful enhancement of its agency banking model in 2025.
By expanding its network to over 700 agents through partnerships with Zimpost and independent community entrepreneurs, the bank has significantly bridged the financial accessibility gap for underserved populations.
This model operates alongside 34 service centres, 33 Automated Teller Machines and digital platforms like the ‘On the Go’ app, USSD and WhatsApp Banking.
POSB CEO Mr Garainashe Changunda noted that the model brings banking closer to where people live and work, cutting down travel distances and expenses while generating commission-based income for local entrepreneurs
The initiative directly targets vulnerable and marginalised groups—such as pensioners, low-income earners, persons with disabilities, and rural communities—across areas like Plumtree, Chimanimani, Binga, Maphisa, Hwange and Mutawatawa.
By promoting secure savings, payments, and credit access, the strategy aligns seamlessly with SDGs 1, 8 and 10.
The Bangkok event also featured the launch of the Driving Global Change report, which compiles data from 61 financial institutions across 88 indicators. Key network-wide findings from 2025 highlight massive global commitments:
Community Investment: US$4,29 billion in philanthropic investments, with 15 percent dedicated to education.
Inclusive Growth: MSMEs account for 95 percent of corporate customer portfolios, 61 percent of members offer zero-fee accounts, and 44 percent of customers reside in rural areas.
Climate Action: Members issued US$114,4 billion in green financial products, including US$56,79 billion in green loans and US$32,82 billion in green bonds.
Women’s Empowerment: Women represent 47 percent of customers, 48 percent of employees, hold over a third of management roles, and lead 51 percent of MSME customer businesses.
Proximity: Agent networks comprise 91 percent of total access points, fueling a massive global reach of roughly 2,6 million points of contact.
Established as a statutory fund in December 1904, POSB has spent over 120 years evolving from its Post Office origins into Zimbabwe’s 100 percent homegrown savings bank. Today, through strategic transformation and community-focused digital initiatives, POSB continues to set a benchmark for sustainable banking and national economic development.
