Back in December 2020, Stanbic Bank shocked us all when it announced that it would be zero-rating its banking platforms. This means that you won’t need data to access any of Stanbic’s customer channels like the app and its website. At the time, I had my doubts as to other banks joining in and boy… was I wrong. Since that time there has been a slow domino effect with Nedbank and First Capital Bank announcing that they have zero-rated their bank apps. And now we have a fourth entry as CBZ has announced that it too has joined the zero-rate revolution.
“In line with the Bank’s thrust to continuously develop innovative and low-cost customer centric products, we are pleased to advise that the Bank has zero-rated CBZ Touch Mobile App.”CBZ Bank
This means that you can now use the CBZ Touch mobile app without needing any data. And as with Stanbic, Nedbank and First Capital the service is for Econet subscribers only which is a shame really. As I have said a number of times here, zero-rating isn’t free. It’s basically reverse charging which means your bank is paying for the data you consume while on its platforms.
Econet to its credit has hopped on to this quickly in order to make as much as they can because telecoms companies are ailing for a number of reasons. The most important one is, of course, foreign exchange losses which are gutting Zim’s MNOs.
With the situation the way it is for mobile operators, one would imagine that Telecel and NetOne would also jump on to the zero-rate wave. But for reasons unknown, there has yet to be a bank offering zero-rating for its customers on Telecel or NetOne.
Hopefully this changes soon because with four banks now zero-rating through Econet, NetOne and Telecel could soon see subscribers shift, making Econet an even bigger behemoth…