adminTinashe Makichi Business Reporter
ZB Financial Holdings Limited is targeting 10,000 banking agents by the year end from the current 6,000 as the financial institution taps into the unbanked by bringing financial services to the consumer’s doorstep. The financial services group last Friday officially launched its agency banking, “ZB Pauri/Khonapho” after securing approval from the Reserve Bank of Zimbabwe.
Speaking on the sidelines of the launch in Glen Norah, ZB Financial Holdings chief executive Ronald Mutandagayi said the bank has a budget of $1 million to assist agents in setting up banking systems. He said most of the investment will be done by the agent but the bank will intervene where necessary to ensure the agent is well equipped in line with best practices.
“We’re targeting 10,000 agents across the country by the end of the year. We had already made inroads at the moment our agent population is sitting at about 6,000 and we’re looking at increasing that number by year end. This launch is part of the bank’s strategy to capture the unbanked while also driving the recently mooted financial inclusion strategy. We believe that can only be achieved if we bring financial services to the customer’s doorstep,” said Mutandagayi.
He said the ZB Pauri/Khonapho brings convenience to many Zimbabweans who have busy schedules within their localities.
“Our agents will help to divert existing customers and the public at large from crowded branches, providing a complementary and more convenient channel of accessing financial services. ZB Pauri/Khonapho as the name suggests offers banking services right where you are within your neighbourhood,” said Mutandagayi.
Online Reporter