RBZ shifts NFIS3 focus
SAMANTHA MADE
The Reserve Bank of Zimbabwe (RBZ) has signalled a decisive shift toward results-driven financial inclusion, insisting that the upcoming National Financial Inclusion Strategy 3 (NFIS 3) must deliver measurable, real-world improvements that “touch the population of Zimbabwe in total.”
Speaking at the 2025 National Financial Inclusion Conference, RBZ Deputy Governor Dr. Jesimen Chipika said NFIS 3 will prioritise programmes that produce meaningful outcomes rather than activity for its own sake.
“The emphasis is that the NFIS 3 will be about impact. So we want things that will touch the population of Zimbabwe total,” Dr. Chipika said.
Her remarks were amplified by Rachael Mushosho, Deputy Director of Bank Supervision at the RBZ, who underscored the need for initiatives that can be tracked, measured, and communicated effectively.
“The initiatives that we are going to do under NFIS 3 must make sure that there is impact, and we must tell the world about the impact,” she said.
Mushosho stressed that financial inclusion cannot be delivered by the RBZ alone, calling for deep collaboration among regulators, financial institutions, fintechs, NGOs, community structures and development partners.
“Financial inclusion is a collective responsibility involving all stakeholders,” she said. “We are doing a lot, but we need to shout out there and tell them, showcase what we are doing, because we are doing a great job.”
Mushosho revealed that NFIS 3 will introduce several initiatives designed to strengthen data-driven decision-making, beginning with enhanced communication through the RBZ’s data portal.
“We want to enhance communication through the data portal. Researchers, please go to that data portal, because we need your comments,” she said.
She emphasised the need to deepen research capacity in Zimbabwe’s financial sector, noting the shortage of scholarly work on financial inclusion and consumer protection.
“One of the things that we are lacking is research papers on financial inclusion, research papers on consumer protection, research papers on innovative financial products,” she said.
Addressing Zimbabwe’s persistently low levels of financial literacy—particularly digital financial literacy—will be a central feature of NFIS 3. Mushosho said the RBZ will champion a coordinated, long-term approach to financial education.
“We are talking about low levels of financial literacy in general, particularly digital financial literacy,” she said. “We are recommending a coordinated and sustainable financial literacy program. And for this to happen, we need that collaboration… to know who is doing what at what stage.”
She added that the strategy will include standardised financial literacy roadmaps for use nationwide, alongside the development of learning materials in all 10 official languages.
“We are also going to come up with a standardized financial literacy roadmap… Development of financial literacy material in all the 10 languages in Zimbabwe. I think that is key,” Mushosho said.
A major thrust of NFIS 3 will involve deploying community leaders, teachers and agricultural extension officers through a structured “train-the-trainer” approach aimed at extending financial literacy deeper into rural areas.
“Train the trainer programs is one strategy that we want to use in 2026, where we take advantage of our community leaders, the teachers already in the rural areas, and the agricultural extension officers,” she said.
Partnerships with banks and mobile network operators (MNOs), who play a pivotal role in digital financial services, will also be strengthened.
“We will also continue to collaborate with banks and MNOs,” Mushosho said.
NFIS 3, which will run from 2026 to 2030, follows NFIS 2 (2022–2026) and is expected to mark a transition from expanding access to deepening sustainable usage of financial services across Zimbabwe. The RBZ says this new strategy will be anchored on measurable impact, stronger collaboration, and an evidence-based approach to closing remaining inclusion gaps.
