ZB has taken a leading role in answering the Government’s call towards financial inclusion by being one of the financial services group to bring banking to the community through the Pauri Khonapho Agency Banking model. The launch of Pauri Khonapho has empowered individuals, small and medium enterprises and other entrepreneurs who have entered the banking services industry as agents of the Group. Over 11 000 agents are providing financial services countrywide with a substantial concentration in, hitherto, unbanked areas which include high density suburbs, growth points and rural areas. This has reduced the need for customers to travel long distances in order for them to access financial services.
Furthermore, a virtual card, the Pauri card which is linked to a mobile phone and can transact any form of local payments was launched. This facility does not require a person to have a regular bank account and is light-weight on normal account opening requirements. The facility is accessible at a very low cost and does not accrue monthly charges whilst transaction charges are minimal. Extensive promotion of Pauri Khonapho and the Pauri card together with financial literacy road shows were carried out in several market places throughout the country. This programme will continue in line with the goal towards financial literacy and empowerment. The economic benefits are already beginning to manifest with several testimonies on development of entrepreneurship coming through as feedback.
