Conceptual Model for Financial Inclusion Development through Agency Banking in Competitive Markets




development finance, financial strategy, inclusion, customer engagement, sustainable profitability


This article reports on a study that aimed to identify the important elements of financial inclusion based on a literature review and a case study of agency banking. The study explored and applied literature review findings and utilised a case study approach, notably of three renowned commercial banks in Zimbabwe, to illustrate the importance of financial inclusion through enhanced agency banking in competitive markets. An instrumental case study (cross-sectional) research protocol was employed for the three selected banks. A mixed methods approach was used to collect responses from the respondents in the field which included 10 agency banking department managers, 70 active agency bankers, and 300 active account holders or customers from the three selected banks. The researcher utilised an instrumental case study protocol which showed that the procedure for a standardised approach in carrying out more than one case study (for the three selected banks). The primary data was analysed and interpreted using SPSS, in line with the themes, devised from the research objectives. Structural equation modelling was applied so as to check the causal relationship between variables. It suggests a framework for building and fostering financial inclusion through agency banking. The findings showed that financial inclusion needs to be aligned to the corporate needs and processes to help deliver customer or depositor promises. The level of consistency along financial inclusion through agency banking, targeted towards the customers or depositors is critical to the success of agency banking by any banking or financial institution.

Author Biography

Brighton Nyagadza, Marondera University of Agricultural Science and Technology (MUAST)


Program Coordinator for BSc.Hons.Digital Marketing Degree

Marketing Management Department

Marondera University of Agricultural Science and Technology (MUAST).

Faculty of Agribusiness and Entrepreneurship



How to Cite

Nyagadza, Brighton. 2019. “Conceptual Model for Financial Inclusion Development through Agency Banking in Competitive Markets”. Africanus: Journal of Development Studies 49 (2):22 pages.



Received 2019-08-27
Accepted 2019-11-14
Published 2019-12-31