The Vendors Initiative for Social and Economic Transformation (VISET) warmly welcomes the launch of consultations for Zimbabwe’s National Financial Inclusion Strategy III (NFIS III) (2027–2031) by the Reserve Bank of Zimbabwe (RBZ) and the Ministry of Finance, Economic Development and Investment Promotion. As an organization representing informal economy workers, vendors, traders, and micro-enterprises across Zimbabwe, VISET recognizes financial inclusion as a critical pillar for sustainable economic growth, poverty reduction, enterprise development, and social transformation.

We are encouraged by the strategic shift from merely measuring access and usage of financial services to assessing their actual impact on livelihoods, business productivity, income generation, and economic resilience. This approach aligns with the realities faced by millions of informal economy workers and small businesses that require affordable, accessible, and responsive financial services to grow and contribute meaningfully to national development.

VISET particularly welcomes the focus on addressing key barriers that continue to exclude many vendors and informal traders from the formal financial system, including:

• High transaction and banking costs that discourage low-income entrepreneurs from using formal financial services.
• Persistent digital divides affecting rural communities, women, youth, persons with disabilities, and other marginalized groups.
• The need for stronger consumer protection mechanisms to safeguard vulnerable citizens from predatory and unregulated digital lending practices.
• Enhanced financial literacy and digital skills development to enable informed participation in the evolving financial ecosystem.

Women constitute a significant proportion of Zimbabwe’s informal economy and continue to face structural barriers in accessing finance, including limited collateral, lower asset ownership, and unequal economic opportunities. We therefore strongly support the inclusion of targeted measures that promote women’s financial inclusion, entrepreneurship, and economic empowerment.

VISET also calls for the NFIS III process to fully recognize and respond to the realities of informal economy workers, who account for the majority of Zimbabwe’s workforce. Financial products and services must be designed to meet the needs of micro and small enterprises, including flexible savings products, affordable credit, micro-insurance, digital payment solutions, and business development support.

We commend the RBZ and its partners for adopting a participatory consultation framework and encourage broad stakeholder engagement throughout the strategy development process. The voices of vendors, market traders, women entrepreneurs, youth-led enterprises, savings groups, consumer organizations, and community-based structures must be meaningfully incorporated into the final strategy. VISET stands ready to actively participate in the consultation process and contribute evidence-based recommendations that advance inclusive, equitable, and transformative financial inclusion for all Zimbabweans.

Together, we can build a financial system that not only expands access but also creates tangible improvements in livelihoods, enterprise growth, and shared prosperity.

Issued by:

Vendors Initiative for Social and Economic Transformation (VISET)