Source: RBZ warns digital payments adoption lagging despite record growth – herald
Business Reporter
Zimbabwe’s digital payments ecosystem recorded ZiG1.37 trillion in transaction value and 511, 1 million transactions in the first half of 2026, but the Reserve Bank has warned that adoption is failing to keep pace across all segments of the economy.
Addressing the Zimswitch Payments Conference taking place in Victoria Falls, Dr Josephat Mutepfa, Director of Financial Markets at the Reserve Bank of Zimbabwe, said the challenge was no longer the availability of digital solutions.
“Our challenge is no longer the availability of digital solutions, but ensuring they are trusted, affordable, reliable, accessible and widely accepted,” Dr Mutepfa said.
He identified key barriers including network reliability, digital literacy, cybersecurity awareness and merchant acceptance, particularly among small businesses in the informal sector where cash remains dominant.
Dr Mutepfa reaffirmed the central bank’s commitment to promoting a safe, efficient and interoperable payment ecosystem in line with the National Development Strategy 2.
“Building trust in the digital economy requires us all to play our part,” he said. “As we scale digital payment systems, we must ensure that no Zimbabwean is left behind, regardless of location or socio-economic status.”
He also highlighted Zimbabwe’s growing regional influence, noting the country’s involvement in the Pan-African Payment and Settlement System.
Earlier, Zimswitch CEO Mr Zabron Chilakalaka called on the industry to move beyond innovation to delivering tangible impact.
“As an industry, we are being called to do more than innovate. We are being challenged to deliver impact,” he said.
Mr Chilakalaka warned that emerging technologies empowering innovation were also enabling sophisticated cyber threats.
“Innovation must always be met by equally strong commitment to security and trust,” he said.
The conference, running under the theme “Scaling with Purpose, Delivering Impact,” has brought together more than 150 delegates from seven countries and concludes on 25 July.
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