POSB set to mobilise funds for Powertel Communications 

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By Alois Vinga

THE People’s Own Savings Bank (POSB) has entered into an MOU which will see it becoming the lead finance mobiliser for Powertel Communications’ projects.

Established in 1999, Powertel Communications is a wholly owned subsidiary of the ZESA Holdings Group operating as a dynamic information and communication technology services provider offering not only traditional ICT services but also versatile Internet of Things (IoT) products.

The MoU is birthed out of the understanding that Powertel has vast untapped potential which can see the light of the day if adequate resources are availed.

The agreement will see POSB act as the lead finance mobiliser for Powertel Communications’ projects with the bank and will also assist the company in accessing foreign currency locally and internationally.

POSB chief executive officer, Garainashe Changunda said the move will deliver notable dividends to both parties in the agreement.

“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,” he said.

Powertel Communications Managing Director, Willard Nyagwande said the partnership is an opportunity to ride on each other’s strengths.

“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,” he said.

The parties also agreed to collaborate on payment processing and developing a secure payment system for Powertel Communication’s customers while utilizing POSB’s expertise in financial transactions.

The duo will join hands in their marketing campaigns to promote each other’s products and services to their respective customers and increase customer acquisition.