Dr. Paul Tungwarara, a prominent businessman and special advisor to the President, is spearheading the establishment of agency banking in remote areas of Zimbabwe, fulfilling the government’s vision of inclusivity.
Through his initiative, “Talk and Pay” (TAP), which has partnered with CBZ Bank, previously marginalized communities that lacked access to traditional banking services are now experiencing a significant improvement in financial access.
TAP has simplified the process of sending and receiving money, both domestically and internationally. Diasporans can now conveniently purchase electricity tokens and airtime for loved ones in Zimbabwe from the comfort of their own homes.
Furthermore, Dr. Tungwarara is actively involved in various life-changing initiatives, such as the Presidential Boreholes, Solar, and Internet Schemes.
Agency banking, a model that empowers financial institutions to provide banking services through third-party agents, is being rolled out nationwide. TAP agencies have already been established in areas such as Murambinda and Bulawayo, with additional locations in Harare, including TAP headquarters in Borrowdale and Harare Street.
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Dr. Tungwarara is also the developer of the first-of-its-kind social media application, also named “TAP,” which integrates communication and financial transactions. This innovative application aligns with the government’s emphasis on leveraging technology and innovation through the “Heritage-Based Education 5.0” model.
“His Excellency the President has strongly emphasized the importance of innovation,” said Dr. Tungwarara. “Therefore, we decided to play our part by expanding financial access to even the most remote corners of the country. This initiative will also create employment opportunities for local communities.”
Dr. Tungwarara highlighted that TAP agencies will serve as a comprehensive financial platform. “While Zimbabwe has various financial platforms like Ecocash and One Wallet, TAP will offer a more integrated solution, allowing users to seamlessly chat and transact within the same application,” he explained. “Moreover, we are developing a platform that enables international transactions, similar to services like Mukuru and World Remit.”
The TAP application will also facilitate online payments for goods and services. “We have successfully conducted internal tests of the application, including international transactions with individuals in Dubai,” Dr. Tungwarara stated. “We anticipate launching full transaction capabilities within the next few weeks.”
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