When we wrote about the Steward Bank system upgrade over the weekend, we were skeptical that this upgrade would make the bank’s problems go away. We concluded: Even as they promise to fix this over the weekend, the problem for Steward is that they have made such promises before and not fulfilled them. Last time for example, in […]
ZB Bank’s move to grow retail financial services through agent banking is smart, but its 9,000 agents total is questionable
ZB Bank has made a smart play for retail financial services growth with its agent banking model, but its 9,000 agents total is questionable.
Steward Bank, an Econet Wireless subsidiary, told Techzim recently that their banking network now has some 3,000 agents spread across the country. Agent Banking Manager, Ruth Takawira, told us in an interview that its agents are now transacting $3-6 million dollars a month. The bank launched agent banking back in November 2014 initially with just Econet’s EcoCash agents. Eventually though, […]
CBZ Bank has so far registered at least 100,000 low cost banks accounts customers since the launch of their agency banking in June last year. The accounts, called SmartCash accounts, became a possibility when the Reserve Bank allowed for a lite banks account which customers can open using only their ID. Before now, we didn’t know exactly […]
ZB Bank started its own agent network in 2015 and has so far grown this to a total of 6,000 agents with plans to grow this to 10,000 agents by the end of 2016. A bank card that is distributed and supported through all these agents would further improve access to deposits.
Powertel, the internet provider and ZESA Holdings subsidiary will now be distributing its products at selected Zimpost outlets throughout the country.