Getbucks grows customer base
GETBUCKS says it is geared to grow its customer base despite the current harsh economic environment being experienced in the country.
Zimbabwe is struggling with one of its worst economic crises in a decade that has seen poverty levels rising to astronomical levels in the last two years after inflation ravaged workers’ disposable incomes and pensions.
Terrence Mudangwe, Getbucks managing director, yesterday said the microfinance bank’s ability to grow customer base has been buoyed by the central bank, which gave the company a bureau de change licence.
“The value preservation strategy to acquire investment property in 2018 continued to yield results. With a fully functional banking platform, the bank continued to focus on growing its customer base,” he said.
He noted that the microfinance firm was committed to improve cost efficiencies to increase shareholder value in order to achieve excellent customer experience.
“The bank has generally been dominant in the micro-lending space and will now also focus on an increased banking presence in order to bring convenience to our clients,” he said, adding that “the lending aggression will continue albeit with a deliberate bias towards shorter term loans in a bid to preserve value in this hyperinflationary environment.”
Mudangwe said the bank has managed to preserve capital, with the importance being magnified by the recent indexing of minimum capital to the United States dollar.
“We now have to strike a fine balancing act between value preservation and profitability,” he said.
He also noted that a deliberate financial inclusion strategy targeting the unbanked in a sustainable manner and offering them banking solutions that address their needs will continue.
“In order to ensure banking services are accessible to all, we strive to have the lowest banking charges across all platforms we offer, impact lending to the agricultural sector and the mass market will also be one of our focus areas as we continue to transform lives,” said Mudangwe.
The bank’s digitalisation journey saw it launching an innovative mobile banking application with unique features such as bank to EcoCash wallets that can transfer direct to any recipient.
“There are many more exciting developments that are in the offing and will be rolled out in phases by our innovative development team for the convenience of our banking public,” he said.