POSB launches US$8.7m solar, starlink facility

ROBIN PHIRI

State-owned financial services provider, People’s Own Savings Bank (POSB), has unveiled an ambitious US$8.7m solar and starlink facility, a major initiative aimed at powering schools and connecting communities across Zimbabwe. 

The project seeks to drive digital inclusion and promote sustainable education, in line with the country’s national development agenda.

Speaking at the launch in Harare, POSB Chief Executive Officer, Garainashe Changunda, said the initiative underscores the bank’s commitment to innovation, sustainability, and financial inclusion — pillars central to Zimbabwe’s growth aspirations.

“This year marks POSB’s 120th anniversary — 120 years of promoting financial inclusion and national development to transform livelihoods,” Changunda said. “This milestone reflects the trust, partnership, and collaboration the group has built with its customers and partners over the years.”

Changunda noted that the global economy is being reshaped by clean energy transition, digital transformation, and sustainability, adding that Zimbabwe’s education system stands at the intersection of these global forces.

“Over 60 percent of rural schools in Zimbabwe lack access to electricity, and more than 70 percent have no internet connectivity. These statistics represent lost potential and widening inequality. Our Solar and Starlink Facility directly responds to these challenges,” he said.

Under the three-year programme, POSB has committed US$8.7 million to enable schools, households, small and medium enterprises (SMEs), and educators to acquire solar systems and Starlink internet connectivity.

The facility offers flexible and affordable financing options, including loans of up to US$10,000, no collateral requirements, 48-hour processing, and a seven-day installation turnaround.

Anchored on three strategic pillars — clean energy access, sustainable finance, and digital connectivity — the initiative is expected to benefit at least 450 schools, 2,700 households, and 400 SMEs by 2027.

“This initiative is not just about energy provision; it’s about empowering communities, enabling education, and driving economic growth,” Changunda added.

The project aligns with Vision 2030, the National Renewable Energy Policy (2019), and Education 5.0, while contributing to the United Nations Sustainable Development Goals (SDGs), particularly SDG 4 (Quality Education), SDG 7 (Affordable and Clean Energy), and SDG 13 (Climate Action).

POSB is also exploring the registration of the project for carbon credits, a move that could attract international climate finance and help scale up renewable energy access across communities.

As part of its corporate social responsibility (CSR), the bank has donated US$20,000 to install 5kVA solar kits at seven schools — three in Gokwe North, two in Chipinge, one in Bubi, and one in Bindura.

“We invite the education sector to seize this opportunity to transform learning environments. Together, we can build a future that is green, connected, and inclusive, in line with Vision 2030,” Changunda said.

Minister of Primary and Secondary Education, Professor Torerayi Moyo, who officiated at the launch, applauded POSB for taking a leadership role in bridging Zimbabwe’s digital divide.

“This initiative ensures that every child, regardless of their geographic location, has access to quality education powered by reliable energy and connectivity,” he said.

Moyo said the programme complements the government’s Presidential Computerisation and Solarisation Programmes, which are designed to expand renewable energy and technology access in learning institutions, especially in rural areas where electricity and internet remain scarce.

“By investing in solar energy and technology, we are paving the way for a modernised education sector that can adapt to the challenges of the 21st century. It will foster a more inclusive and empowered future for all learners,” the minister added.

He also emphasised that reliable energy and connectivity are now critical for effective teaching, learning, and administration, cautioning that without them, learners risk exclusion from the Fourth Industrial Revolution, which is transforming economies through artificial intelligence, data science, and automation.

The initiative is being implemented in collaboration with the Ministry of Primary and Secondary Education and several private sector partners, including TransServ, Global Solar, TelOne, and Frampol, who will provide installation and technical support.

“The collaboration between government, the private sector, and financial institutions such as POSB demonstrates the power of partnership in advancing sustainable development,” Moyo said.