By Business Reporter
The People’s Own Savings Bank (POSB), the leading savings bank in the country, has announced the grand opening of its new Microfinance Service Centre in Mutare.
The centre, located at Stand number 4011, First Avenue, Mutare, aims to bolster access to capital for micro, small, and medium enterprises (MSMEs) in the region.
As a part of POSB’s commitment to enhancing financial inclusivity and social impact nationwide, the establishment of the Microfinance Service Centre marks a significant step towards achieving these goals.
The centre will provide affordable and accessible loans to MSMEs, as well as individuals who have traditionally been excluded from financial services such as the elderly, pensioners, women, youth, rural and smallholder farmers.
In addition to providing financial assistance, POSB is dedicated to empowering its customers through financial literacy and business development training.
By equipping individuals with the necessary skills and knowledge, the bank aims to enhance their capacities and support the growth and success of their ventures.
David Makacha, the Public Relations Manager of POSB, expressed his enthusiasm for the new Microfinance Service Centre.
“We are excited to launch our new centre in Mutare as part of our strategy to promote financial inclusion, expand our reach, and have a positive impact on the communities we serve. This centre will provide a great opportunity for many MSMEs and individuals seeking access to affordable and flexible loans for their start-ups or projects. We have designed tailor-made loan packages, including agriculture finance, education finance, and salary-based loans, to cater to the diverse needs and aspirations of our customers.” said Makacha
With the provision of loans to marginalized groups and the financially excluded, the People’s Own Savings Bank aims to facilitate the transition of low-income and marginalized households from financial constraints to active participation in wealth creation and inclusive economic development.
This initiative aligns with the National Development Strategy 1 (NDS1) policy and Vision 2030, which seek to establish an upper middle-income society in Zimbabwe by 2030.
POSB Zimbabwe currently operates 32 service centres throughout the country and is dedicated to leaving no one and no place behind.
The opening of the new Microfinance Service Centre in Mutare will provide convenience to clients from Mutare and the surrounding areas, ensuring easier access to financial services for local businesses and individuals.
As POSB continues its mission to promote financial inclusivity and empower communities, the establishment of the Microfinance Service Centre in Mutare represents a significant milestone in achieving these objectives.
The bank’s commitment to supporting MSMEs and marginalized individuals underscores its dedication to fostering economic growth and development throughout Zimbabwe.