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South Africa,Zimbabwe : ZIMBABWE'S STEWART BANK invades SOUTH AFRICAN diaspora

May 16, 2014



Officials from Zimbabwe'sStewart Bank invaded South Africa to try and lure Zimbabweans in the neighbouring into using the bank's EcoCash mobile money transfer facility and other services. The services includes the Diaspora Savings Account, diaspora Current Account, diaspora Fixed Deposit Account, EcoCash$ave Account and EcoCash Banking Services.

The facility is capable of fast transfer of cash to relatives and eliminates risks associated with sending cash through cross-border transport operators.

The bank's money transfer facility was a guaranteed way of fulfilling the need. There is over 12,000 agents throughout Zimbabwe, which include shops and kiosks which were found in the country's remote rural areas. Most Zimbabweans that are based abroad still have memories of the bank anarchy over 6 years ago and have not had a chance to witness the new banking culture.

Savings deposited with the bank were safe as the bank was well funded. The bank is well capitalised.

The bank has a user-friendly interface and remains the only bank that allows clients to chat online with bank officials and get responses instantly. The bank will launch a home loan account which will help those who want to buy or build houses. There is stability in the banking sector in the country.


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Source: TendersInfo (India)


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