Staff Writer
Two state enterprises, the People’s Own Savings Bank (POSB)-the country’s only savings bank, and Powertel Communications- the ICT subsidiary of the ZESA Holdings, have signed a Memorandum of Understanding for projects collaboration.
The two State owned enterprises are organisations working closely towards the attainment of the goals and aspirations of Vision 2030.
The agreement will see POSB act as the lead finance mobiliser for Powertel Communications’ projects. The bank will also 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.
In exchange, 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 Garainashe Changunda, POSB Chief Executive Officer.
“We believe that this partnership will enable us to leverage each other’s strengths and expertise and create innovative solutions that will benefit our customers and the community at large,” said Mr. Willard Nyagwande, acting Powertel Communications Managing Director.
The parties agreed to collaborate on payment processing and developing a secure payment system for the Powertel Communication’s customers while utilizing POSB’s expertise around financial transactions.
POSB and Powertel have also agreed to join hands in their 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 programs 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.
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