Business Reporter
The People’s Own Savings Bank (POSB) has announced a record dividend of US$5.14 million for the 2026 financial year, marking a significant leap from the US$1.52 million paid in 2025.
This milestone highlights a five-year trend of steadily increasing shareholder returns, thanks largely to the support from its shareholder, Mutapa Investment Fund.
POSB’s chief executive officer, Garainashe Changunda, credited the bank’s strong performance to its ongoing transformation strategy, which focuses on innovation, operational excellence, and delivering greater value to customers.
“As I reflect on our transformation journey, I am proud of the significant progress we have made in advancing innovation, strengthening operational excellence and enhancing customer value. Our performance reflects the resilience of our strategy, the dedication of our employees, and the continued trust and confidence of our customers, shareholder and other stakeholders in the POSB brand,” he said.
Changunda expressed pride in the progress made and emphasized the trust and confidence shown by shareholders, customers, and employees alike.
Dividend payments have risen sharply, growing from just US$216,334 in 2022 to the current record, reflecting improved profitability and careful capital management.
The bank has also bolstered its capacity to support key productive sectors with funding from multiple sources, including US$5 million from Mutapa Investment Fund, US$10 million from Afreximbank, and aUS$22.5 million agricultural mechanisation facility under the Belarus programme.
By mid-2026, POSB’s loan book had expanded to US$54.3 million, while customer deposits reached US$99.4 million, driven by business growth and increasing customer confidence.
The bank remains committed to its digital transformation journey, investing in technologies to build a modern and inclusive financial institution.
POSB’s Transformation Strategic Plan is over 83% complete, with full deployment of its core banking system expected by December 2026.
With a strong capital position and growing profitability, the bank is well-positioned to continue supporting Zimbabwe’s productive sectors while delivering sustainable value to its shareholders.
