InnBucks, Simbisa Brands’ money transfer service, is officially back, four months after the service was banned by the Reserve Bank of Zimbabwe (RBZ)
However, the structure, fees, tariffs and charges are now different from how they were before it was banned.
The central bank regulators authorized InnBucks to operate as a bank called Ndoro Microfinance Bank Limited.
In a statement released on Monday morning, InnBucks said,
“We are pleased to advise all our customers and stakeholders that the Regulators have authorised the launch of the INNBUCKS product. Existing InnBucks account holders will have their accounts automatically reactivated.
INNBUCKS now operates as a product of Ndoro Microfinance Bank Limited, a registered Microfinance Bank. This arrangement will bring additional services and benefits to INNBUCKS customers.
Members of the public are therefore able to transact and enjoy the services and benefits of Zimbabwe’s favourite, low-cost, platform through the network of over 260 Quick Service Restaurants of Simbisa Brands Limited.
Thank you for your patience and we look forward to your continued support and use of the enhanced INNBUCKS product offering which you can explore at www.innbucks.co.zw
Thank you to our Regulators for the constructive engagements which have resulted in the licensing of the INNBUCKS product.”