Steward Bank Scoops Financial Inclusion Award

Steward Bank, Zimbabwe’s largest bank by depositors, won the?Financial Inclusion Award at the?2023 Zimbabwe Independent Banks & Banking Survey awards ceremony?held in Harare last week. The award recognizes Steward Bank’s innovative strategy to open up new ground among the unbanked, leveraging its digital accounts opening platform, which saw it open 130,000 accounts during the period under review.?The bank has been at the forefront of driving financial inclusion in Zimbabwe, with a focus on providing affordable and accessible banking services.?According to a survey by the Zimbabwe Independent, in partnership with First Capital Bank, Steward Bank’s contribution to the National Financial Inclusion Strategy was significant.

Steward Bank offers a wide range of products and services that meet the needs of diverse customers, regardless of their income or location. The bank has a network of mobile banking agents across the country, making it easy for people to open bank accounts and access financial services, even in the most remote areas of the country, thus the bank’s agents have been termed “your neighbourhood bank”. In addition, Steward Bank has partnered with a variety of organizations to promote financial literacy and education among low-income and marginalized groups.?The bank also offers a range of affordable banking products, such as low-maintenance accounts and low-interest loans, to make banking more accessible to everyone. The bank has partnered with solar energy providers for solar financing, addressing the UN sustainable Goal Number 7, which seeks to provide affordable and reliable clean energy to society.

The award also acknowledges Steward Bank’s significant contribution to the National Financial Inclusion Strategy. From a digital credit access perspective, more than 900,000 loans were disbursed through Kashagi digital loans platform, with a third of the loans being availed to women.

It is such innovation and inclusivity that earned Steward Bank the financial inclusion award. This award demonstrates Steward Bank’s commitment to making banking more accessible and affordable for everyone in Zimbabwe.?It is a testament to our passion about financial inclusion and belief that it is essential for the economic growth and development of the country.

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