…Certification affirms the Bank’s commitment to sustainable, inclusive and value-driven banking
The People’s Own Savings Bank (POSB) has attained international Sustainability Certification from the European Organisation for Sustainable Development (EOSD) under the Sustainability Standards and Certification Initiative (SSCI). The official certification ceremony was held in Germany on 27 August 2026.
The certification marks a significant milestone in POSB’s more than 120-year history and recognises the progress made by the Bank in embedding sustainability within its governance, strategy, operations, financial products and decision-making processes.
POSB Chief Executive Officer, Mr. Garainashe Changunda, said the certification represented an important step in the Bank’s transformation into a modern, responsible and future-focused financial institution.
“Attaining the EOSD Sustainability Certification is a significant achievement for POSB and demonstrates the commitment of the Board, management and staff to building a sustainable and resilient institution. It affirms that sustainability is becoming an integral part of how the Bank is governed, how it designs and delivers financial solutions and how it creates lasting value for customers, stakeholders and the broader economy.” said Mr. Changunda.
He added that the certification was not an end in itself, but a foundation for further strengthening the Bank’s contribution to sustainable national development. He also expressed his sincere appreciation to the Reserve Bank of Zimbabwe for its invaluable support, guidance and continued engagement throughout the certification journey.
“As a savings bank, POSB has an important responsibility to mobilise savings and channel financial resources towards activities that improve livelihoods, support businesses and promote inclusive economic growth. The Bank will continue developing sustainable financial solutions, strengthening impact measurement and disclosures, and exploring opportunities to mobilise development and climate finance,” he said.
For POSB, sustainability has since evolved from a collection of isolated initiatives and compliance requirements into a practical management framework for institutional transformation, influencing the Bank’s governance, resilience, digital capability, stakeholder engagement and long-term value creation.
Through the SSCI journey, the Bank has aligned its mandate and purpose with three High-Impact Goals: boosting savings mobilisation, enhancing financial inclusion and promoting small and medium enterprises. These goals are anchored by the Bank’s purpose statement: “To sustainably transform lives and impact communities in Zimbabwe.”
Also read: POSB Joins the UNEP Finance Initiative & Signs the Principles for Responsible Banking
The Chairman of the International Council of Sustainability Standards for Value-Driven Financial Institutions and Chief Executive Officer of EOSD, Mr. Arshad Rab, said the certification demonstrated POSB’s readiness to evolve while building upon its long institutional legacy.
“The Sustainability Certification of POSB is significant because it demonstrates an institution with deep historical roots that is prepared to evolve. For a savings bank, savings are not simply deposits held by a financial institution. When effectively mobilised and deployed, they become capital that can enable individuals to invest, businesses to grow and economies to build greater financial strength from within,” said Mr Rab.
He noted that POSB’s nationwide reach gives its sustainability transformation broader significance by enabling sustainable finance to reach individuals, families, entrepreneurs and smaller businesses across Zimbabwe.
“Certification recognises the institutional progress POSB has made, but its real value will be demonstrated through the Bank that POSB continues to become: more innovative, more responsive to a changing economy and increasingly capable of using its financial resources and institutional reach to enable people and businesses to create greater economic value,” he said.
“For more than 120 years, the People’s Own Savings Bank has been part of Zimbabwe’s financial landscape. Few financial institutions have the privilege of such a long history. But longevity brings with it an equally important responsibility: not simply to adapt to change, but to continually reinvent the institution for the economy and society it must help shape. The Sustainability Certification of POSB is therefore significant because it demonstrates an institution with deep historical roots that is prepared to evolve,” Mr. Rab added.
Mr. Rab congratulated Mr. Changunda, the POSB Board, management and staff for the commitment and determination that enabled the Bank to achieve the milestone.
The certification strengthens POSB’s transformation agenda and provides a platform for the Bank to deepen financial inclusion, enhance institutional resilience and expand its contribution to Zimbabwe’s national development priorities.
