NMB to launch agent banking after getting approval from the Reserve Bank

Financial institution NMB Holdings is expected to introduce agent banking before the end of the year after getting approval from the Reserve Bank of Zimbabwe. The move is part of the bank’s strategy to tap into the unbanked population.

Chief executive Mr Ben Washaya told analysts

We received the necessary regulatory approval for agency banking roll out and we expect to have our agency banking functional during the fourth quarter of the year.

A 2014 FinScope Consumer Survey revealed that nly 30 percent of Zimbabwe’s adult population made use of banking services as at 2014.

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