Zimbabwe’s regional financial institution Banc ABC is reportedly planning to invest $1.5m to establish a mobile banking platform, which is expected to be operational by end of June this year.

The platform will be centrally linked and will be used by all the branches across the five countries in which the bank operates, reported Zimbabwe Independent.

Banc ABC group COO Ronald Pfende said to BusinessDigest in an interview: "The investment is on technology and will be made between now and June of this year.

"Unlike mobile money, this is mobile banking and will be an internal facility that does not require us to make use of the different mobile phone providers in all the countries in which we operate in."

According to Pfende, the mobile banking platform will allow customers to perform all transactions including card payments, balance enquiry and other value added services as part of the company’s growth strategy.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.