The Deposit Protection Corporation (DPC) convened its 8th Annual General Meeting (AGM) on 18 June 2026 at the Hyatt Regency Meikles Hotel, where stakeholders reviewed the Corporation’s 2025 performance and mapped out strategic priorities for the future.
The Board Chairperson, Mr. Canan Dube, opened the meeting by underscoring DPC’s robust financial results and its expanding impact on financial literacy and inclusion. Targeted outreach initiatives enabled the Corporation to reach over 15,000 students and SMEs, demonstrating its ongoing commitment to advancing financial awareness throughout Zimbabwe. Mr. Dube also outlined 2026 priorities: accelerating digital transformation, reinforcing depositor payout readiness, expanding the Deposit Protection Fund, and advancing sustainability and corporate governance.
The Chief Executive Officer, Mr. Hopewell Zinyau, presented the operational review, highlighting notable progress in fulfilling DPC’s mandate. The Deposit Protection Fund grew from USD15.2 million to USD28.8 million in 2025, reflecting prudent financial management and sector resilience. The Corporation completed all mandated bank liquidations and managed sector developments without triggering depositor compensation payouts. Public awareness surged, with brand recognition increasing from 39% to 76%, driven by strengthened stakeholder partnerships and sustained investment in financial inclusion programmes.
Significantly, DPC also reviewed and implemented enhancements to deposit insurance coverage, tripling protection for bank depositors to US$3,000 and quadrupling cover for deposit-taking microfinance institution clients to US$2,000. This move is aimed at strengthening depositor confidence and reinforcing financial sector stability. Looking ahead, Mr. Zinyau reaffirmed DPC’s commitment to strengthening depositor protection, enhancing operational efficiency, embracing digital innovation, and supporting a resilient financial ecosystem.
The Finance and Administration Director, Mr. Alfred Chaavure, reported strong financial performance supported by a clean audit opinion, reflecting sound governance and accountability. The Corporation posted a net surplus of USD13.4 million, driven by robust investment returns and premium income. Diversified revenue streams continue to strengthen the Fund’s sustainability, with the DPF reaching USD38.2 million in the first quarter of 2026.
On governance and compliance, the Legal Counsel and Corporate Secretary, Ms. Kiitu Zawanda, emphasised DPC’s ongoing alignment with Vision 2030, national priorities, and international best practices. She confirmed full compliance with statutory and procurement requirements, supported by a strong governance framework anchored by an independent Board and statutory committees. She further highlighted progress towards alignment with international deposit insurance principles, as well as ongoing legislative and governance reforms to address compliance gaps.
The 8th Annual General Meeting showcased a Corporation that continues to strengthen its financial stability, governance, and operational capacity while prioritising depositor protection and contributing meaningfully to the stability of Zimbabwe’s financial sector.