STRATEGIC PARTNERS
February 6, 2002
ZIMBABWE -- Zimbabwe Building Society has launched ATM cards, dubbed ZBS Money Wells, and installed a computer network to enable customers to transact business faster at any branch, according to a report in allAfrica.com.
The ATMs were installed at the building society's main branches in Harare and Bulawayo, and there are plans to launch them in Gweru, Mutare and Victoria Falls.
According to ZBS chairman Rukudzo Murapa, the firm also plans to enter into an agreement enabling its customers to use ZBS cards at the ATMs of other financial institutions around the country.
He said the building society, which was saved from collapse in 1998 by a rescue package from the Reserve Bank of Zimbabwe, had succeeded in turning its fortunes around and emerged as a competitive force in the building society sector.
"We have succeeded in turning a loss of $426.6 million in 1998 into a net surplus last year of almost $248.3 million," said Murapa. "Our debt book has been cleaned up."
ZBS began operating in 1992.
