Confidence in Long-Term Savings Key to National Development: NDS2
The recently launched National Development Strategy 2 (NDS 2) 2026–2030 places the restoration of confidence in long-term savings at the centre of financial sector reforms. The Strategy recognises the crucial role that insurance and pension funds play in mobilising stable, long-duration capital for national development.
NDS 2 underscores that a robust insurance and pensions industry is essential to building a vibrant long-term savings market and deepening financial sector resilience.
“During NDS 2, Government will implement a comprehensive Strategy to revitalise the long-term savings market as a key source of financing for national development as well as supporting financial sector growth,” the Strategy states.
“The strategy will focus on strengthening the insurance and pensions industry to improve governance, transparency and accountability in the management of savings.
“Government will rebuild public confidence by resolving outstanding pre-2009 pension and insurance compensation cases, ensuring fair compensation to affected policyholders and pensioners.”
To widen participation in long-term savings, NDS 2 promotes the development of innovative long-term investment products aimed at diversifying savings options and attracting segments such as the diaspora. This approach seeks to make formal long-term savings more accessible, flexible and responsive to different income realities.
Regulatory oversight will also be strengthened to ensure the integrity and stability of the savings system. Enhanced supervision, stronger consumer protection and improved corporate governance standards are expected to safeguard savers’ funds and promote confidence in financial institutions.
In addition, financial literacy programmes will be intensified to nurture a culture of saving and enable citizens make informed decisions about pensions and insurance. By improving public awareness, the Strategy aims to increase participation in long-term savings schemes and promote financial security across households.
Through these measures, NDS 2 aims to rebuild trust, deepen inclusion and position long-term savings as a cornerstone of Zimbabwe’s economic transformation.
For more on this, you can read NDS 2 from page 62. You can download the NDS 2 here