August 18

Zimbabwe’s InnBucks Gets Green Light to Resume Services

By Matshepo Sehloho

Zimbabwean mobile money platform, InnBucks, has resumed its service following its abrupt suspension by the country’s central bank earlier this year.

Run by its parent company, Simbisa Brands, the mobile money platform has returned, this time in partnership with a registered deposit-taking microfinance institution, Ndoro Microfinance Bank Limited.

The mobile platform allows its consumers to send and receive money, as well as purchase from fast food outlets.

The Reserve Bank of Zimbabwe (RBZ) suspended InnBucks in April saying it was not registered to operate.

USAID Digital Development.

Source: Connecting Africa (link opens in a new window)

financial inclusion, fintech, microfinance, partnerships