adminDickson Mangena, Business Reporter
ZB Bank in partnership with Fidelity Printers and Refineries has launched a transaction card only for miners in a move that is expected to create value for the mining players.
The card, which would only be issued to registered miners and licensed gold buyers, is expected to help formalise the informal market in gold trade and is a move to follow the Reserve Bank of Zimbabwe (RBZ)’s call to embrace the use of plastic money.
“We enjoy a mutually beneficial relationship with Fidelity and as most of you are aware, we have a number of our branches where Fidelity Printers has set up gold buying centres and in return we offer banking services to miners in our ZB Bank banking halls,” said ZB Bank acting chief executive officer Mr Shadowsight Chiganze at the card’s launch in Cowdray Park,Bulawayo last week.
Mr Chiganze added that the card allows miners to carry out a vast number of transactions and it also opens the gateway for them to receive Government export incentive.
He also said the partnership between ZB Bank and Fidelity Printers and Refiners has seen the latter setting up shop to buy gold from gold miners in selected ZB branches in Kadoma, Zvishavane, Kwekwe, Chinhoyi, Bindura, Masvingo, Gweru, Mutare, Gwanda and Bulawayo Fife Street.
The same launch also saw ZB Bank introduce to the Cowdray Park and Bulawayo residents a debit card for everyone, the Khonapho/Pauri card.
According to Mr Chiganze, the Khonapho/ Pauri card allows individuals to access mobile banking facilities instantly and send, receive money as well as pay bills without the need for a bank account.
“This card also embraces the cashless thrust that the Reserve Bank of Zimbabwe is advocating for. Cost of the card is only $0.80c and this is available at all our branches and agents,” he said.
He also said that the Khonapho/Pauri card will be supported by their new agency banking products which they were also formally launching in Bulawayo after it was launched in Harare on 13 May 2016.
“Currently, ZB has an agent force of over 6 000 and these stretch as far as Esigodini, Maphisa, Nkayi and Binga,” said Mr Chiganze. – @Dixen6
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