Agribank completes US$2,5m ICT upgrade

institution’s flexibility to offer a diverse range of products.
Agribank managing director Mr Sam Malaba recently said the bank had invested US$2,5 million on ICT over the past two years.
“The systems upgrade will enhance service delivery by enabling faster processing of transactions and ensuring quick turnaround time.
“The upgrade also provides an enhanced platform for provision of a broader range of products and services in line with our strategic focus for bringing banking convenience to our valued customers through wider delivery channels,” said Agribank.
The bank has invested US$2,068 million on systems upgrade, US$226 000 on Internet banking and US$206 000 on system connectivity.
Agribank had targeted February for the rollout of ICT modules in respect of Internet banking, SMS alerts and e-statements.
Thereafter the bank targets to introduce progressively other modules such as customer relationship management, call centre solutions and electronic recruitment of customers.
This puts the financial institution on a strong footing to support agriculture sector and agro-focused companies having received a US$30 million credit facility last year from the Industrial Development Corporation of South Africa.
The fund was successfully disbursed to the Zimbabwe Fertiliser Company, Chemplex Corporation and Windmill, Olivine Industries, Interfresh, Zim Copper, Zimglass and Sunway City.