US$44,9bn transacted electronically in 6 months

Source: US$44,9bn transacted electronically in 6 months – herald Business Reporter Zimbabwe’s evolving financial market and shift to digital finance have allowed the country to keep pace with modern payment methods globally, after a record 381 million electronic transactions valued at ZiG1,2 trillion (US$44,9 billion) were executed in the first half of 2025 The surge marks a significant milestone in the country’s journey towards financial digitisation and inclusion The volume of transactions under the review period averaged six transactions per person annually, utilising a variety of digital platforms including RTGS, cards, mobile money, apps and online channels Monthly transaction values peaked at over ZiG250 billion, reflecting robust adoption across diverse sectors of the economy Governor Dr John Mushayavanhu underscored the Reserve Bank of Zimbabwe’s ongoing efforts to promote digital financial services, enhancing efficiency, security and broader financial inclusion nationwide.RTGS transactions alone processed ZiG248,9 billion and US$16,7 billion, totalling ZiG2,3 million and US$3,1 million transactions respectively Interoperability between mobile networks and banks also saw significant growth, with June witnessing ZiG2,2 billion in cross-platform retail transactions Amidst this rapid digitisation, banker Raymond Madziva emphasised the critical need for robust cybersecurity frameworks to safeguard against escalating volumes of transactions and mitigate risks associated with fraud and system disruptions Mr Madziva warned, “Rapid digitisation demands robust cybersecurity frameworks As volumes surge, maintaining resilience against fraud and system disruptions is paramount.” The RBZ has intensified AML/CFT/CPF oversight for payment service providers and is finalizing AI-specific cybersecurity guidelines to buttress defences He, however, hailed the trend, “From urban centres to remote villages, mobile money interoperability and instant payments are transforming how Zimbabweans transact, pay bills and remit across borders.” She added that the RBZ’s push for ISO20022 compliance by November 2025 will further align local systems with global standards In a bid to foster innovation while maintaining regulatory integrity, the central bank has amended licencing regulations and fee structures for money transmitters and mobile banking providers, reducing entry barriers for fintech firms Zimbabwe’s integration with the Pan-African Payment and Settlement System (PAPSS) is gaining traction, with local banks processing ZAR2,41 billion in SADC-RTGS transactions via the platform, although volumes experienced a 23 percent dip amidst market adjustments Dr Mushayavanhu emphasised the strategic significance of cross-border digital corridors in enhancing trade finance and lowering remittance costs, supported by collaborations with institutions like Afreximbank and the AfCFTA Secretariat “We aim to foster innovation without compromising consumer protection or financial stability,” he said As digital adoption continues to deepen in the domestic market, Zimbabwe is poised to overcome traditional banking constraints, drive financial inclusion, and catalyse broader economic growth With nearly 40 percent of transactions now conducted electronically, the payments landscape has irreversibly transformed, ushering in unprecedented levels of efficiency, security and economic opportunity This transformative shift underscores Zimbabwe’s commitment to embracing digital financial solutions as a cornerstone of its economic strategy, paving the way for a more resilient and inclusive financial ecosystem in the years ahead Originally published on Zimbabwe Situation All Zim News is a central hub for all things Zimbabwean, curating news from across the country so no story is missed Alongside aggregation, our team of nationwide reporters provides real-time, on-the-ground coverage Stay informed and connected — reach us at admin@allzimnews.com . Source: Zimbabwesituation