Zimbabwe: NBS Launches Local Remittance Service

LEADING financial services provider, National Building Society (NBS), has launched an all-inclusive local remittances product, NBS Instant Cash, which allows banked and non-banked customers to send forex locally at the lowest premiums, thereby catering for the needs of the marginalised.

Speaking at the launch ceremony yesterday, NBS head of marketing, Ms Mildret Kujinga, said the service would bring inclusivity and make it easy for all clients to send as little as US$10 per transaction.

She said the service also helped marginalised societies who found it hard to send money for basic commodities and for the day or home emergencies whose amounts were beyond their reach.

"In addition to working with international money transfer agencies like Senditoo and WorldRemit, the building society has added an exciting local remittances product, NBS Instant Cash, to deliver world class services in the remittances space," Ms Kujinga said.

She said the building society was deliberately focusing beyond housing delivery and was responding to market demands and ushering disruptive products to the expectations of their targeted markets.

"We have a national mandate to deliver affordable houses, build dreams and build our societies hence we are continuously rolling out ICT-driven innovative products to improve the quality of life for Zimbabweans."

Ms Kujinga said there had been a huge uptake of the new product and sending or receiving forex via the NBS Instant Cash platform would create a traceable formal transactional history even for the informal sector, enabling them to access various products offered by the institution.

"The promise to the market is that for sending or receiving forex across Zimbabwe using NBS, there will be instant cash," she said.

The Instant Cash services are accessible at NBS branches and its authorised agents countrywide.

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