BY NATHAN GUMA
WHILE domestic violence has traditionally been associated with the physical abuse of intimate partners to maintain power and control, its effects extend far beyond, often splintering into areas that are even more psychologically damaging.
They include financial abuse.
Financial abuse is a form of abuse in which one person exerts control over their victim’s access to economic resources, thereby reducing the victim’s ability to support themselves and forcing them to depend on the perpetrator financially.
However, insurance broker Zimnat, an intermediary company that sells and negotiates insurance products, is currently offering tools aimed at empowering victims to reclaim their financial independence.
What is financial abuse?
Finance abuse includes restricting financial access, such as blocking access to bank accounts, refusing to pay household expenses, or deliberately leaving a partner financially stranded.
In some instances, perpetrators also weaponise generosity, a situation where one offers help and later uses it to control decisions or guilt the recipient into compliance.
Some victims have also fallen into traps where their spouses sabotage their employment, preventing them from working or advancing in their careers, or restricting access to education and skills development.
According to a report by The World Bank, gender-based violence (GBV) is a significant concern in Zimbabwe, with a substantial number of women experiencing physical and sexual violence.
The report states that approximately 39.4% of women have been subjected to physical violence, while an estimated 11.6% have faced sexual violence.
It also notes that although there has been a decline in child marriage rates, 16.2% of women were married before the age of 18 as of 2022, putting them at further risk of economic abuse, as most of them do not have an active income.
Research by Nedbank, titled Financial Freedom: Addressing Financial Abuse, reveals that economic abuse is present in 99% of domestic abuse cases.
The World Bank indicates that Zimbabwe is still lagging in property ownership by women, with only 3.9% of females owning land from 2015 to 2025.
How Zimnat is Combating Financial Abuse
The insurance broker has been running a campaign to promote financial independence among victims of abuse, particularly women.
“Breaking free from financial abuse often requires a multifaceted approach that addresses both the emotional and economic challenges victims face. Here’s how the tools within Zimnat’s areas of expertise can provide real, practical support,” Zimnat stated on its website.
“Financial abuse often leaves victims vulnerable to the loss of key assets, such as a car or household items. Insurance protects these assets, ensuring victims have the stability to rebuild their lives independently. It’s about securing what you already have, so no one can use it as leverage against you.
“For victims with dependents, financial abuse can create additional fears about their children’s future. Life assurance provides a financial safety net, ensuring dependents are cared for regardless of circumstances. It’s a way to create long-term security that isn’t dependent on another person.”
The company has been offering asset management tools to promote financial literacy, which it says helps individuals develop strategies to grow their wealth, manage savings, and regain confidence in handling finances.
“For many victims, access to funds is the first step toward independence. Microfinance solutions—such as small loans or financing options—can provide the capital needed to start a small business, secure accommodation, or meet basic needs, empowering victims to take control of their financial future,” it reads.
“From a psychological perspective, financial abuse is devastating. It creates a constant state of helplessness and erodes the victim’s sense of self-worth. Victims often internalise feelings of failure, believing they are to blame for their dependency.”
State of Uninsured Marginalised Populations
Organisations representing marginalised populations say that women have been on the receiving end of financial abuse.
Samantha Sibanda, director of Signs of Hope, an organisation representing people with disabilities, says that women with disabilities have been particularly hard hit by financial abuse, as most of them hardly have control over their income.
“When you look at the plight of women with disabilities, you will notice that, first, they are less likely to go to school. This then means they are less likely to be formally employed,” she told *The NewsHawks*.
“As a result, they are mostly in the informal trade—mainly vending. This kind of trade has been hard hit by economic challenges. Again, most people do not really support women with disabilities.
“Most of them are running unsustainable businesses and living from hand to mouth, just getting enough to get them through the day. So when we look at insurance, pensions, and other financial services, you will hardly see women with disabilities in that space. Lack of awareness is also another challenge.”
Sibanda said that there should be targeted financial services for persons with disabilities.
“The Reserve Bank of Zimbabwe has come up with what is called the Financial Inclusion Strategy, now on NFIS2. Persons with disabilities are one of the groups being targeted to improve their financial inclusion,” she said.
“In that strategy, there is the formation of working groups. There is a working group for persons with disabilities, which is intentional about mapping financial services targeted at persons with disabilities and raising financial awareness as well.”
Community-based organisation Mhuriimwe AIDS Challenging Trust (MACT), based in Mutoko, has been rolling out financial intelligence lessons to women in villages within Makosa, the proceeds of which have been helping them in voluntary work to end HIV.
“We have been empowering women in our area to be financially intelligent and secure. This is because most of them rely on their spouses who work in the mining sector. The only source of income that some of them have is farming, which is not usually enough to sustain them,” said Tichatonga Nyangu, Mact director.
“So, we believe that there is need for them to have packages which will help them save for their future, while becoming financially independent. Some of the people we have trained have already been helping their community members through voluntary work. But, we think more education will even make it better.
Greshen Mudzengerere, a volunteer at Mact says that while they have been doing weekly contributions, there is need for more education.
“We have our group, Kushinga, based in Boiwa Village, where we make contributions (mukando) every Wednesday. We contribute US$2 every week. Some of the money we lend to each other when there is a problem, which is required to be repaid with 20% interest at the month’s end,” she said.
