POSB and Powertel Sign MoU for Projects Collaboration
THE People’s Own Saving Bank (POSB) and Powertel Communication, the information and communication technology (ICT) subsidiary of ZESA Holdings have signed a memorandum of agreement that seeks to enhance the savings banks’ digital strategy while the bank assists Powertel Communications in accessing foreign currency locally and internationally.
The agreement will see POSB act as the lead finance mobiliser for Powertel Communications’ projects on the other hand the bank will assist Powertel Communications in accessing foreign currency locally and internationally.
“POSB will offer value-added services such as mobile banking or online bill payment to Powertel Communications’ customers and banking services such as corporate accounts, point of sale machines (POS facilitation), cash collections, investments both long and short, international payments, exports facilitation, receipt of export proceeds, and loan scheme arrangements for staff from time to time,” reads a joint statement released by the entities.
In exchange, the statement added that Powertel Communications will be responsible for offering various ICT solutions to POSB and its clientele including VPN/MPLS, corporate internet, home internet, IoT and Managed Value-Added Services.
“POSB clientele stand to benefit from various promotions including discounts and other incentives that may be unveiled by Powertel Communications from time to time, to POSB’s customers using its services during the tenure of this MoU.
“ Powertel will also provide cloud/data centre services and cybersecurity services to support the POSB network infrastructure and thus protect against cyber threats.
“We are excited about this partnership with Powertel Communications. This collaboration is expected to bring about mutual benefits for both parties involved. As State enterprises, we can lean on each other to achieve our corporate objectives and the country’s vision of attaining an upper-middle-class status by 2030,” said Mr Garainashe Changunda, POSB Chief Executive Officer.
Acting Powertel Communications Managing Director, Mr Willard Nyagwande said the partnership will enable the leveraging of the entity’s strengths and expertise and create innovative solutions that will benefit customers and the community.
The parties agreed to collaborate on payment processing and developing a secure payment system for Powertel Communication’s customers while utilizing POSB’s expertise around financial transactions.
POSB and Powertel have also agreed on joint marketing campaigns to promote each other’s products and services to their respective customers and increase customer acquisition.
The agreement also includes collaboration on customer loyalty programmes to reward customers for using both services, providing additional value and incentives for customers to continue using their services and co-branding of products and services to ride on each other’s brand recognition and reputation and boost the two entities’ businesses.
The partnership comes when both POSB and Powertel Communication have been placed under the Mutapa Investment.
“We have also recognized the immense potential and opportunities that lie within the Mutapa Investment group. Therefore, this intra-group collaboration is a further testament of the multiplicity of opportunities that lie ahead for all group members to increase their footprint in their respective markets and enhance return on investment for the fund and subsequently the shareholder.
“Through such collaborations, we can also help the nation to achieve the goals and aspirations of vision 2030.”-chronicle
