The People’s Own Savings Bank (POSB) has today unveiled Huruyadzo/Inkunzi, a mobile-based group savings platform that is the first of its kind in Zimbabwe.
The name Huruyadzo/Inkunzi means the greatest or the biggest of them all.
It is a testament to POSB’s commitment to creating a platform that can reach people across the country and make group saving safer and easier for everyone and , leaving no one and no place behind in line with the government’s vision 2030, which aims to create an upper-middle income class economy by 2030.
Huruyadzo/Inkunzi, as the name suggests, is a game-changing solution, bold in ambition, national in impact, and designed to transform how people save together.
More than just a new product, it builds on the way Zimbabweans already live, save, and support one another, while providing a safer and more secure way to do so within today’s modern financial system.
Zimbabwe has a strong tradition of saving in groups, commonly known as Mukando. For many years, this has helped families and communities pool money for school fees, businesses, and support in times of need.
However, in recent years, some groups have lost money due to theft, dishonesty, and mistrust, when people trusted with the money disappear with the funds.
Huruyadzo/Inkunzi was developed to address these challenges.
The platform formalises the way people already save in groups, while keeping the same community spirit. It brings greater transparency, shared control, and accountability.
This means no one can access or withdraw the group’s money without the knowledge and approval of other group members.
To get started, customers simply dial *223#, select the Group Savings option, and follow the prompts to create and name a group.
Group creators and members can invite others to join. Leadership roles such as Chairperson, Secretary, and Treasurer are assigned through the phone, and each invited member can accept or decline.
In a speech read on his behalf by POSB Divisional Director of Retail Banking, Mr Lawrence Munashe Kupika, POSB Chief Executive Officer Mr Garainashe Changunda said the platform is meant to meet the savings needs of every Zimbabwean.
“Huruyadzo/Inkunzi is a game-changing innovation designed to protect and strengthen the way Zimbabweans already save together. We are formalising Mukando in a secure and transparent manner so that no individual can spend or put the group’s hard-earned savings at risk without the knowledge and approval of other members,” said Changunda.
He added that the service is easy to access, whether a person is banked or unbanked.
“What makes Huruyadzo truly transformational is its accessibility. Anyone with a mobile phone can use it, without a smartphone, without internet access, and even without a POSB account.
All you need to do is dial *223#, select Group Savings, and follow the prompts,” he added. Everything is done digitally, as the Bank is positioning itself into a digital and AI-powered financial institution.
Savings on the platform earn interest, helping groups grow their money over time. There are also no monthly service fees, showing POSB’s commitment to encouraging a culture of saving in line with the Bank’s transformation agenda which also seeks to shift the Bank from being product to customer centric.
Huruyadzo/Inkunzi supports financial inclusion by offering safe savings to both the unbanked and underbanked, including informal traders, civil servants, churches, burial societies, farmers, savings clubs, and other community groups.
“At POSB, financial inclusion is not a slogan. It is our mandate. Huruyadzo/Inkunzi supports our mission to serve every Zimbabwean and to make saving together safer, smarter, and more rewarding,” said Changunda.
Share Your Comments