Bank accounts increase to 1,3 million

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Bank accounts increase to 1,3 million

Presenting the Mid-Term Monetary Policy Statement, RBZ Governor John Mangudya said that bank accounts have increased from 229 264 in March last year to 1,3 million this year.

Said Mangudya:

As at March 31, 2017 a total of 1,3 million low cost accounts had been opened, up from 229 264 as of March 31, 2016. The bank is coordinating tracking of financial inclusion targets. The tracking system comprises monitoring of progress and evaluation of the various financial inclusion initiatives. Financial inclusion indicators as at March 31, 2017 reflect a general improvement in access to formal financial services by target groups such as women, SMEs and youth.

SMEs with bank accounts have increased to 72 757 in March from 71 730 in December 2016 while women with bank accounts increased to 814 593 from 769 882.

More: Herald



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