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April 2, 2015updated 04 Apr 2017 12:52pm

BancABC to invest $1.5m in mobile banking platform

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.

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.

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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.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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