Whither savings banking model?

Occasionally, I will randomly feature particular banks in this column because it helps readers to understand the broader financial sector better.

Financial Sector Spotlight with Omen Muza
This new aspect of the column starts with the People’s Own Savings Bank (POSB) simply because it is one of a kind — the only bank mandated to primarily pursue a savings mobilisation model at a time when Zimbabweans’ savings habit is at its lowest ebb.

Enabling Act
Unlike other commercial and merchant banks which are established in terms of the Banking Act, the POSB was created in 2001 in terms of the POSB Act, and is wholly owned by the government.

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