EmpowerBank Limited, Zimbabwe’s microfinance institution focused on youth, has joined forces with EFT Corporation (EFTCorp) to accelerate digital inclusion efforts across the country. This partnership aims to deliver accessible financial tools to young people and women, particularly those without access to traditional banking, while encouraging entrepreneurship and economic participation.

In a nation where over 60% of the population is under 25 and formal financial services often don’t reach women, EmpowerBank is stepping in to make a difference. Through its alliance with EFTCorp, the institution is expanding its impact by integrating technology that supports financial independence and long-term resilience within underserved communities.

By supplying scalable digital infrastructure and banking systems, EFTCorp allows financial institutions like EmpowerBank to extend secure, reliable services to those historically excluded from the formal financial ecosystem. The collaboration is creating a framework where technology and financial access intersect, enabling young people and women to thrive as entrepreneurs, business owners, and contributors to economic development.

Driving Financial Empowerment

At its core, EmpowerBank is committed to driving youth economic empowerment. Its offerings include accessible loans tailored to young borrowers, financial education initiatives, and programmes that encourage entrepreneurship across multiple industries. The bank’s mission goes beyond funding- it’s about shifting communities.

“We see access to finance as a tool for empowerment,” said Christopher Mwerenga, Acting Chief Executive Officer at EmpowerBank. “When we support a young entrepreneur or a youth-led microbusiness, we’re not just supporting an individual, we’re helping build community-level resilience and sustainable livelihoods.”

EFTCorp plays a key role in delivering the systems required for this kind of transformation. “Financial inclusion at scale requires reliable banking infrastructure – not just at the branch, but in the palm of your hand,” explained Farai Tigere, Managing Director, Zimbabwe at EFTCorp. “We’re proud to be a technology partner to EmpowerBank as they continue to support financial empowerment from the grassroots up.”

Key Programmes in Action

EmpowerBank’s current projects are already making a tangible impact:

• Microloans for youth entrepreneurs: EmpowerBank continues to issue loans to businesses run by young people across sectors such as agriculture, services, and retail. These loans are accompanied by mentorship and training opportunities, helping borrowers to strengthen their business skills and strategies. The bank accepts strong proposals from any sector to encourage a diverse and innovative entrepreneurial environment.
• Women in Business initiative: Dedicated support for young female entrepreneurs is another cornerstone. Initiatives targeting industries like food processing, cross-border trade, and manufacturing have helped many women establish a financial identity, grow their businesses, and become part of the formal economy.
• Youth financial literacy campaigns: Awareness campaigns through radio, roadshows, and schools have focused on educating the public about budgeting, saving, and the use of mobile banking—key tools for financial wellbeing.

“Our customers are at the heart of everything we do,” Mwerenga added. “We’ve seen firsthand how access to finance and knowledge can transform lives, especially for young people who have traditionally been excluded from formal banking.”

Technology at the Centre

Digital technology is central to EmpowerBank’s delivery model, especially in remote or low-connectivity regions. With EFTCorp providing its core banking solutions, the bank can now operate with greater efficiency and reach.

Some of the main digital solutions provided by EFTCorp include:

• Transaction switching services: EFTCorp’s switching platform handles real-time transactions, enabling ATM use, point-of-sale functions, and mobile money interoperability. This is vital in bringing services to rural areas and small merchants.
• Card issuing and management: Through EFTCorp, EmpowerBank customers receive debit cards, making it easier for them to manage and access funds securely.
• Acquiring services: With EFTCorp’s support and Verifone point-of-sale terminals, merchants in informal markets can now accept card payments, helping them move away from cash-only operations and adopt formal financial systems.

Stronger Together

This collaboration highlights the value of partnerships between financial institutions and technology providers in Africa. EmpowerBank’s focus on youth development, paired with EFTCorp’s infrastructure solutions, offers a practical approach to inclusive growth.

“Financial inclusion is not a one-size-fits-all model,” said Tigere. “We understand the regional, regulatory, and customer nuances that define financial ecosystems in countries like Zimbabwe. Our role is to build the technology that enables inclusion at scale – from transaction switching and POS payments to digital issuing and mobile-first banking solutions that reach underserved customers.”

With investment in inclusive digital platforms and community-first financial tools, EmpowerBank and EFTCorp are working together to reshape Zimbabwe’s financial landscape by ensuring that young people, including women, are equipped to take the lead in driving lasting economic progress.