Harare, 7 November 2023…Two state enterprises, the People’s Own Savings Bank (POSB)-the country’s only savings bank, and Powertel Communications- the ICT subsidiary of ZESA Holdings, have signed a Memorandum of Understanding (MoU)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 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 to develop a secure payment system for 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.
About POSB
The People’s Own Savings Bank (POSB) is Zimbabwe’s only 100 percent homegrown savings bank that has served the nation by providing quality, affordable and accessible banking services for over 115 years. Formerly the Post Office Savings Bank, the POSB was established in December 1904 as a statutory fund to mobilise savings for national development. From January 1905 until 1965, the Bank conducted its operations through the Post Office infrastructure network. In 1965, the Post Office Savings Bank Act {Chapter 249} was promulgated thereby providing for the administration of the Savings Bank by the Posts and Telecommunications Corporation (PTC) on an agency basis. Finally, in 2001, the People’s Own Savings Bank of Zimbabwe Act (Chapter 24:22) was promulgated. This Act effectively established POSB as a corporate body, separate from PTC. Learn more about POSB at www.posb.co.zw and follow us on Facebook, Twitter, Instagram and LinkedIn.
POSB Media Contact Details
David Makacha
Public Relations Manager
Email: dmakacha@posb.co.zw
Telephone: 0242 793814
About Powertel Communications
Powertel Communications is a wholly owned subsidiary of the ZESA Holdings Group that is licensed by the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) as a Class A Internet Access Provider. The company operates in the dynamic information and communication technology sector offering not only traditional ICT services but also versatile Internet of Things (IoT) products and services that are positioned for the future of everyone and all things connected. Since 1999, Powertel has been actively providing a broad range of Information Communication Technology (ICT) services to the ZESA Group and to commercial and individual customers utilizing the electricity grid infrastructure and underground fibre and ADSS fibre. The Powertel network is postured for growth as an international internet bandwidth provider. Powertel offers high-speed and dedicated internet solutions enabled through terrestrial optical fibre delivered into the country through submarine cable systems via Mozambique and Botswana thus ensuring redundancy. This has capacitated operation in the Fourth Industrial Revolution (4IR) by providing the much-required bandwidth to support emerging technologies such as artificial intelligence, machine learning, the Internet of Things (IoT) and Big data analytics, unlocking limitless opportunities. Solutions available include:-
• Wholesale Internet: for telecommunications and tertiary institutions
• Home Internet: for both urban and rural users
• Corporate Internet: (offering dedicated 1:1 contention packages and contented packages for
SMEs and Large corporates)
• International Private Leased circuits (IPLC)
- Managed Value Added Services
- IoT Solutions
- Retail Business ie Prepaid Electricity Vending and Customer Premise Equipment (CPEs)
Powertel is actively involved in deploying ICT infrastructure to rural communities through the Rural Datafication programme. Infrastructure, utilities and digital economy have been identified as key enablers to realizing sustained economic growth under the government national priorities stipulated in the National Development Strategy 1 (NDS1) Powertel is playing its role within ZESA to ensure the attainment of NDS1, particularly the goal of total electrification and datafication by 2030. Utilising the powerline fiber infrastructure and funding from multiple stakeholders, the Rural Datafication Strategy will aid in the government’s thrust on devolution and decentralization by availing information access to all. Reliable electricity and ICT infrastructure in rural communities will accelerate and modernize provincial economic development attracting investment and infrastructure development to those areas.
Powertel Communications Media Contact Details
The Managing Director (A)
Email: pa.md@powertel.co.zw
Tel: 0242 -753147-8
