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Thursday, July 18, 2024

2023 Global Money Week begins

Story by Stanley James, Business Editor

ZIMBABWE has joined the rest of the world in celebrating Global Money Week, with a focus on enhancing access to financial services by youths and women.

The 2023 Global Money Week CEO Round Table held in Harare this Tuesday has created a platform to assess Zimbabwe’s commitment to ensuring financial services and products are accessible to all.

Central bank authorities pledged commitment towards the financial inclusion of all the country’s citizens.

Reserve Bank of Zimbabwe Deputy Governor Dr Jesimen Chipika noted, ‘‘Phase two of the financial inclusion is in progress after strides were achieved in the first phase therefore the current aim is to focus on usage and how that can translate into socio-economic development.’’

Despite challenges, the banking sector is also rolling out products and services targeted at low-income sections of the economy.

CABS Head of Retail Mr Charity Zvokuimba said, ‘‘The banking sector is also doing its best by focusing on products and services that are tailor-made to suit the marginalised communities as well as ensuring how they can fully take a lead when it comes to productivity on terms of affordable loans.’’

The insurance industry has also not been spared from extending services to different segments of the economy.

Insurance and Pension Commission Commissioner Dr Grace Muradzikwa noted, ‘‘There are several instruments being taken so that the emerging entrepreneurs get access to policies and products that cover their daily operations by doing so it is all apparently critical to include all people in the insurance value chains.’’

The Global Money Week, which has attracted youths, the private sector, women, small to medium entrepreneurs, bankers and other business executives are also focusing on modalities to increase confidence in the country’s financial markets.

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