THE People’s Own Savings Bank (POSB) has launched a major executive recruitment drive as it accelerates plans to reposition itself as a technology-driven, digitally sovereign financial institution, signalling a decisive shift away from traditional banking models.
The State-owned bank is in the process of engaging a specialised executive search firm to help recruit six senior executives, a move aimed at anchoring its transition towards an AI-enabled digital bank. The recruitment exercise follows the release of POSB’s 2025 interim financial results, which outlined an ambitious strategy to modernise the institution and expand its reach across Zimbabwe’s economy.
According to the bank, the transformation is central to improving operational efficiency, enhancing customer experience and broadening financial inclusion, particularly in a market increasingly shaped by digital platforms and fintech innovation.
At the centre of the strategy is a deliberate effort to bridge conventional banking with emerging financial technologies. One of the key roles to be filled is that of Chief AI and Digital Officer, who will be responsible for embedding artificial intelligence across POSB’s core systems and processes. The bank is also seeking a Head of Neobank and Fintech, tasked with spearheading the development of digital-only banking solutions targeted at younger consumers and Zimbabwe’s large informal sector.
Additional executive positions form part of the restructuring, including a Chief Growth and Experience Officer, a Chief of Staff to strengthen executive coordination and decision-making, as well as specialist leadership roles overseeing microfinance and brand and marketing.
These appointments are aligned with POSB’s newly launched Three-Year Transformation Strategic Plan (TSP) for 2025–2027, which sets out a comprehensive roadmap for revamping operations and redefining service delivery. The plan marks a significant turning point for the bank, placing digital transformation at the heart of its long-term growth strategy.
A key pillar of the TSP is the adoption of advanced artificial intelligence tools to automate and optimise internal processes. POSB intends to deploy AI in areas such as customer support, credit risk assessment, fraud detection and data-driven decision-making, with the goal of achieving faster, more agile operations while improving service reliability.
Beyond technology, the bank’s strategy places strong emphasis on organisational renewal. POSB has committed to extensive staff training and skills development programmes designed to equip employees with the capabilities required in a digital banking environment. Management says this will help cultivate a culture of innovation and adaptability, supporting the shift from legacy systems to modern, customer-centric platforms.
Commenting on the strategy, POSB chairman Mr Kenias Mafukidze said the bank had already begun implementing the transformation agenda in the first half of the year.
“During the first half of 2025, the bank embarked on a journey to implement a three-year Transformation Strategic Plan covering 2025 to 2027,” Mr Mafukidze said in the group’s half-year results to June 2025. “The strategy will deliver an AI-powered digital bank, positioning POSB for sustained growth, operational agility and digital leadership.”
POSB is wholly owned by Mutapa Investment Fund, Zimbabwe’s sovereign wealth fund, which was established to manage and grow State-owned assets for long-term economic development. The fund has significant interests across mining, energy, finance and technology, with POSB’s digital pivot seen as part of a broader effort to modernise State enterprises and unlock greater value from public assets.
As competition intensifies from private banks and fintech players, POSB’s technology-led strategy is expected to play a critical role in determining its relevance and competitiveness in Zimbabwe’s rapidly evolving financial sector. – Herald
