The Deposit Protection Corporation (DPC) is an independent statutory body established under the Deposit Protection Corporation Act (Chapter 24:29) and began operations on 1 July 2003. Deposit Protection is a system that protects all depositors, whether individuals or businesses, against loss of part or all of their eligible deposits in the event of failure of a contributory institution.


Head Office (Harare): Evelyn House, 26 Fife Ave/Cnr Blakiston St, Harare
Tel: +263 242 250900-1, 252336, 251040-44
Fax: +263 242 252 337

Regional Office (Bulawayo): 34 Lawley Road/Corner Leopold Takawira Avenue, Bulawayo
Tel: +263 292 231817/8

Toll Free Line: 0800 4345

Media Contact: Allen Musadziruma (Public Relations Manager)
Tel: +263 242 250900-1 / 252336 / 251040-44 (Ext 2022)
Cell: +263 716 801 310


In line with international best practice, the Deposit Protection Corporation (DPC) aims at meeting a number of objectives which include the following;

  • Protection of depositors by providing compensation in the event of failure of a member institution.
  • Contributing to the stability of Zimbabwe's financial system.
  • Enhancing public confidence in the financial system by establishing a framework for the resolution of failing or failed member institutions.
  • Administering the Deposit Protection Fund.
  • Enhancing competition in the financial sector by creating a level playing field through guaranteeing depositor reimbursements for both big and small member institutions.


The board, including the recently appointed new CEO (June 2019), follows:
Chief Executive Officer Vusilizwe Vuma
Member: Dr K. Mlambo
Member: Mrs V. Nyemba
Member: Mrs J. J. Rusike

Executive Directors

Chief Executive Officer: Vusi Vuma
Finance and Administration Director: Mike M. Chingosho
Business Operations Director: Gift Chirozva


A notable number of bank customers haven’t yet claimed $3.2million worth of compensation from The Deposit Protection Corporation (DPC). Lack of knowledge of such an arrangement and institution from the customer’s side is attributed to be the main reason why customers are not claiming their compensation, DPC public relations manager Allen Masadziruma said. [1]

Further Reading

[1] DPC Wesbsite
[2] Deposit Protection Corporation Act [Chapter 24:29]
[3] HH 374-18 DEPOSIT PROTECTION CORPORATION (In its capacity as the liquidator of Allied Bank Limited in liquidation) versus TREBO & KHAYS (PRIVATE) LTD and Ors

  1. Deposit Protection Corporation Stuck With $3.2 Million Unclaimed Money By Customers Of Failed Banks, TechZim”, Published: Fri 27 Apr 2018, Retrieved: 30 July 2019