News

Spark ATM broadens African footprint

May 21, 2013

South Africa-based Spark ATM Systems has announced the formation of Spark ATM Systems Zimbabwe Pvt. Ltd., in partnership with CBZ Bank Ltd., Zimbabwe's largest retail bank. The move will result in the introduction of the first in-store ATMs in Zimbabwe, according to a news release from Spark.

Spark managing director Marc Sternberg said that entry into the Zimbabwe market is an element of the company's cross-border growth strategy, which envisions Spark increasing its operational footprint throughout the sub-Saharan countries of Africa.

"Since the U.S. dollar was introduced into Zimbabwe, the economy has picked up nicely, with the retail and petroleum sectors showing the most impressive growth, providing the ideal conditions for the establishment of in-store ATMs in the country."

Sternberg said that entering the market was made easier by partnering with existing South African clients such as Fruit & Veg City, Spar, Total and Engen, that had an established presence in Zimbabwe.

Teaming up with a capable and well-respected local bank was also important, he said. "Partnering with Zimbabwe's leading retail bank, CBZ Bank, made perfect sense as it can deliver on-the-ground support through a dedicated project team making the technical transition seamless."

Zimbabweans currently have access to just 400 ATMs nationwide. Spark plans to significantly increase the number of ATMs in the country by installing 300 ATMs in the next 24 months.

Following a pilot launch of ATMs in petroleum, retail and hospitality locations in Harare, Spark will begin strategic deployment of in-store ATMs to other cities including Bulawayo, Victoria Falls and border towns.

Read more about installation and deployment.