With all Steward Bank’s innovation drive, it may come as a surprise to know that Kwenga is not the first portable POS machine to grace Zimbabwe’s financial sector.
CABS. CABS was the first to roll out portable POS machines. One of our readers on Techzim informed us that she saw a CABS portable POS machine similar to Steward Bank’s Kenga being used by a taxi driver.
We then contacted CABS and they confirmed they had such a device. CABS said its portable POS device was first issued last year. As for now,CABS haven’t told us when exactly last year they introduced the device.
Could this be the reason Steward Bank seemed to have rushed to launch Kwenga?
CABS is yet to respond to us about the price of their device and the requirements to have it.
Why has CABS been quite all along about this?… Is it a secret?
Portable POS devices are causing noise as people are now preferring to ‘swipe’ for almost all their transactions. Riding on that noise, naturally I would expect CABS to parade its POS device but no they haven’t.
I’m wondering what their business model is for this device considering that I haven’t yet seen or heard an advertisement promoting its portable POS machine. Not even a press release.
Stay tuned for more information.
CABS (formerly Central African Building Society) is a building society in Zimbabwe. CABS is a subsidiary of Old Mutual Zimbabwe Limited, Zimbabwe's largest life assurance organization. Old Mutual Zimbabwe is in turn a subsidiary of Old Mutual PLC - an international financial services conglomerate. The... Read More About CABS
Steward Bank, is a commercial bank registered and trading in Zimbabwe. The bank is a subsidiary of the Econet Wireless Zimbabwe. It was founded in 2001 by Tawanda Nyambirai as TN Bank. Read More About Steward Bank