HARARE – EFT Corporation (EFTCorp), a leading African provider of digital payment solutions, has joined forces with EmpowerBank, a state-owned microfinance institution dedicated to supporting Zimbabwe’s youth, in a new initiative aimed at strengthening digital financial inclusion across the country.
The partnership marks a significant step towards empowering young Zimbabweans, who make up more than 60% of the population, by offering them access to innovative financial tools and services designed to foster entrepreneurship, boost financial literacy, and promote long-term economic participation.
Through the collaboration, EmpowerBank is set to expand its reach by adopting EFTCorp’s cutting-edge digital infrastructure and bespoke banking technologies. This will allow the bank to better serve young people and women—demographics that are often marginalised by conventional financial systems—by offering secure, accessible, and scalable banking solutions.
EmpowerBank has already made notable progress with youth-targeted financial services, including microloans for young entrepreneurs and dedicated support for young women entering sectors like manufacturing, food processing, and cross-border trading.
The bank has also launched nationwide financial literacy campaigns through radio programmes, roadshows, and school-based outreach, all aimed at promoting saving, budgeting, and responsible use of mobile banking platforms.
EFTCorp’s role in the partnership includes providing core services such as transaction switching, which enables real-time processing of payments across various channels including ATMs, point-of-sale systems, and mobile money platforms. The partnership also allows EmpowerBank to issue secure debit cards, giving customers convenient access to their funds.
In addition, EFTCorp’s acquiring capabilities, supported by Verifone POS devices, will enable merchants, especially in informal markets, to accept card payments—reducing cash reliance and encouraging formalised transactions.
Together, EFTCorp and EmpowerBank envision a digitally empowered future where young Zimbabweans are not only financially included but actively shaping the country’s economic trajectory. Their partnership reflects a shared commitment to inclusive growth, strategic innovation, and people-centred financial services.
