THE Government has called for the increased adoption of digital technologies in the microfinance sector, citing the potential to drive growth, improve service delivery, and deepen financial inclusion.
Speaking during the closing of the third edition of the Microfinance Technology Summit held over two days in Harare, the Minister of Information Communication Technology, Postal and Courier Services, Honourable Tatenda Mavetera, said digital solutions are key to modernising microfinance operations and aligning them with the national digital economy strategy.
“There is no doubt that the ICT sector can be a key driver in growing the microfinance sector through the use of digital solutions not only to expand product offerings and promote financial inclusion but also to enhance cybersecurity in terms of data privacy and security so that the sector is well governed,” she said.
The summit brought together a wide array of stakeholders from local and international financial technology firms, mobile network operators, microfinance institutions, and academia to explore synergies between digital technologies and microfinance.
The event was held in partnership with the Association of Microfinance Institutions in Rwanda, with Rwandan Ambassador to Zimbabwe, His Excellency James Musoni, noting the critical role microfinance plays in socio-economic development across Africa.
“The importance of the microfinance sector cannot be understated in terms of driving economic growth and development for African countries. In this case, both Zimbabwe and Rwanda stand to benefit greatly by leveraging digital technologies to support the growth of this key sector,” he said.
The microfinance industry has long been recognised as a catalyst for inclusive growth, particularly through its support of small to medium enterprises (SMEs) and its ability to bridge the gap in access to formal financial services.
Participants at the summit explored innovations in fintech, cybersecurity, mobile money integration, and regulatory frameworks that can strengthen the sector and foster trust in digital finance.
As Zimbabwe continues on its digital transformation journey, events such as the Microfinance Technology Summit are seen as instrumental in creating platforms for knowledge sharing and innovation that align with Vision 2030 objectives.
