Parliament Seeks Public Views on Deposit Protection Corporation Amendment Bill

Gweru – The Parliament's Portfolio Committee on Budget, Finance and Investment Promotion is on a nationwide public consultations on the proposed Deposit Protection Corporation Amendment Bill, with legislators urging depositors and financial sector stakeholders to help shape reforms aimed at strengthening protection for bank customers.

The committee, Chaired by Chipinge East Legislator, Honourable Lincoln Dhliwayo, held the Midlands consultation at Gweru Theatre Hall recently before proceeding to Bulawayo, Masvingo, Mutare and concluding the outreach programme in Harare on July 24.

The hearings are intended to gather public views on the Deposit Protection Corporation Amendment Bill (H.B. 2, 2026), which seeks to amend the Deposit Protection Corporation Act and introduce a dedicated insolvency framework for banking institutions, among other reforms.

The Bill also proposes extending deposit protection to deposit-taking microfinance institutions, strengthening the powers of the Deposit Protection Corporation and providing clearer procedures for handling failed financial institutions. 

Speaking after the Gweru consultation, Hon. Dhliwayo said the outreach programme was designed to ensure citizens played a direct role in shaping the legislation.

"The team is here in Gweru then we will proceed to Bulawayo, then to Masvingo and Mutare, and will conclude the tour in Harare.

"We are looking for people's contributions towards the proposed Deposit Protection Amendment Bill.

"It is a Constitutional requirement that parliamentarians return to the people and hear their views whenever they undertake parliamentary processes and when making new laws.

"They should always include public participation, as outlined in Section 141 of the Constitution," he said.

Parliament's Portfolio Committee on Budget, Finance and Investment Promotion, Honourable Lincoln Dhliwayo speaking in Gweru.

"That is what we are doing here. We are inviting everyone who is a depositor, those with bank accounts, in building societies and deposit-taking microfinance institutions, to come and share their views on what they think the Deposit Protection Corporation Amendment Bill should look like, particularly in terms of maintaining the value of their money," Hon. Dhliwayo added.

The public consultations form part of Parliament's constitutional obligation to facilitate public participation in the legislative process before the Bill is considered for debate and possible enactment.