African Telecoms company, Econet Wireless, through its wholly-owned financial services subsidiary Steward Bank, has launched a Diaspora bank in London specifically tailored for Zimbabweans living, working and studying in the United Kingdom.
“We thought particularly about the challenges of having to rely on others to make local payments on their behalf. Diaspora banking opens up a myriad of possibilities,” said Steward Bank chief executive Lance Mambondiyani. “Building a house becomes much easier as you can pay suppliers and contractors directly; sending money to parents in rural areas is also made easier as they can simply receive the money via Ecocash directly onto their mobile phone.”
Some of the products offered by Steward Bank Diaspora include savings and current accounts, diaspora EcoCash banking, Steward Health, Ecosure a phone purchase scheme services and remittances.
Mambondiyani said this offering is the first of its kind for Zimbabweans abroad and represents incomparable convenience to the customer as individuals can now make direct payments to family and friends in Zimbabwe as well as local suppliers. “With this new and innovative product offering, Zimbabweans outside the country will finally be able to carry out day-to-day banking transactions through a range of platforms including online banking and the EcoCash platform using a roaming Econet line.”
By George Mpofu