Rutendo Nyeve [email protected]
THE Reserve Bank of Zimbabwe (RBZ) has secured the highest Level 5 Sustainability Certification, an international recognition expected to strengthen confidence in the country’s financial sector and support the mobilisation of long-term savings into productive economic activities.
The certification, awarded by the European Organisation for Sustainable Development (EOSD), places Zimbabwe’s banking and insurance ecosystem on a pathway towards more inclusive, transparent and digitally resilient financial services.
The achievement was announced during the Southern Africa Insurance Indaba in Victoria Falls yesterday, where the central bank outlined its strategy to embed sustainability in financial regulation and economic development.
RBZ Deputy Governor Dr Jesimen Chipika, who was represented by the bank’s director of supervision, surveillance and financial stability, Mr Philip Madamombe, said the Level 5 rating was the highest tier under the Sustainability Standards Version 2.0 and was awarded to institutions scoring above 86 percent.
She said the certification was more than an international accolade, providing a framework through which the financial sector could contribute to national development by protecting savings, strengthening investor confidence and directing resources towards productive sectors.
“The SSCI Central Bank-Led Model positions our financial system as an active monetary policy transmission mechanism. It is a whole-nation approach to sustainability for a high-growth, inclusive and prosperous economy,” said Dr Chipika.
“This certification provides the necessary discipline to protect savings and build investor confidence through transparent project information and sound governance.”
Under the RBZ’s High Impact Goals, the central bank is prioritising sustainable price and exchange rate stability, a sustainability-focused financial sector and improved quality of factors of production to stimulate real economic growth.
Dr Chipika said the recognition demonstrated the potential of Zimbabwe’s financial institutions to mobilise long-term domestic savings and channel them into productive enterprises, resilient infrastructure and value chains such as agriculture, mining and clean energy.
She said the sustainability framework would help strengthen the link between the financial sector and the wider economy, ensuring that financial resources support investments capable of generating lasting economic and social benefits.
The RBZ’s sustainability drive comes as digital financial services increasingly shape how Zimbabweans transact, save and access credit.
Dr Chipika said digital finance had become a critical component of the economy, with more than 11,25 million mobile money subscribers recorded by June 2026.
“Digital services are becoming essential. Payment continuity, secure information, and dependable access now matter alongside capital, liquidity and asset quality,” she said.
Dr Chipika said the central bank was working to balance technological innovation with consumer protection and the resilience of the financial system.
The RBZ has issued a Cybersecurity and Resilience Guideline and is finalising a framework to guide the responsible and ethical adoption of artificial intelligence, as it seeks to protect consumers from fraud, data breaches and other emerging digital risks.
On financial inclusion, Dr Chipika said 83 percent of adults were now formally served by financial institutions, up from 69 percent in 2014. She said the next phase of the National Financial Inclusion Strategy III, covering the 2027 to 2031 period, would place greater emphasis on measurable and sustainable outcomes, particularly the ability of households and micro, small and medium enterprises to withstand economic shocks and invest in their futures.
Dr Chipika challenged financial service providers to develop products that respond to the circumstances of their customers, including those whose incomes fluctuate with agricultural and other seasonal activities.
She said digital distribution channels should also be used to widen access, particularly for underserved communities.
“A product is inclusive when the customer can understand it, afford it, use it, and obtain the promised protection. Zimbabwe’s financial ecosystem is no longer just keeping pace with global standards; it is setting them,” said Dr Chipika.
She said the country’s banking sector remained stable, with non-performing loans below the internationally recognised five percent benchmark, while the sustainability certification provided an additional foundation for building a resilient and inclusive economy.
Dr Chipika said the RBZ remained committed to strengthening financial-sector stability while ensuring that innovation, investment and access to financial services contributed to national development
