Banking the U

nbanked A case for Zim

babw

e gold artisanal m

iners (ASM)Team

M

ukute

Team

Members

Dennis K

waram

ba

Beven S

hapeta

Stanley G

wara

Tawanda M

adzinga

Daniel M

uganiwa

2

Benefits

ASM

float deposits - $60m

per annum.

Increase transactional incom

e

Branch visibility

and increased national footprint

3

Opportunity

Statement

The unbanked ASM

m

arket has a potential of $600 m

illion per annum

in float deposits

4

Research M

ethodology

5

Fidelity Printers & Refiners

Findings and Results O

ver 60% produce less than

50grams a m

onth which translates to

about $24 000 annum/m

iner.

Total income for the A

SM

per annum

is approximately $60m

illion

Over 60%

are not banked

Over 70%

knew about the

BancA

BC

brand

Only 15%

of the miners had

experience (Average 12 years)

6

Mutare; 0.9; 2% Masvingo; 1; 2% Zvishavane ; 2.5; 6%Filabusi; 1.5; 3%

Gwanda; 2.7; 6%

Gweru; 3.1; 7%

Kwekwe; 6.9; 16%

Kadoma; 5; 11%

Harare ; 11.6; 27%

Bulawayo; 8.4; 19%

Distribution of ASM by delivery

Proposed Solution

7

Mukute Card

Proposed Solution

8

Implem

entation Plan

9

Tasks Measures Timescales

Responsibilities Risks & Mitigants

Strategy & Project Approval

Approval by Management

4 weeks Senior Management

Delays and budgetary constraints - Budget approvals

Setting up of a Field team

Signed Team Charter

2 weeks Project Sponsor Team Dynamics – Appointment of a competent Team Leader

Partnership Engagement

Signing of MoU 4 weeks Senior Management

Delays limited & outright refusal by potential partners – engagementsDesigning of product

cards Product cards 4 weeks Product Manager Delays, system incompatibility

Mukute Card, CashVent, SMS Banking,

Installations for testing - CashVent Machines, Mukute Card

3 weeks  Senior Management and Marketing, IT , Risk Management

 Delays and IT challenges -timely planning and User Acceptance Testing

UAT UAT Sign-off 3 weeks  Product Manager & UAT Team

Delays in product development and setting up of test IT environment

Product launch Launched Product  3 weeks  Field, Branch Managers & Marketing

Slow Speed to market - engage the services of Project Office

Marketing & Promotions

Product uptake & surveys ongoing Marketing Budgetary constraints and

inappropriate marketing strategies - Pre-Budget approvals

Product card approval

Approved Product card

1 week Project Sponsor Delays in approval, incompatible product attributes

Project Costs C

AP

EX

– $60 000

Marketing – $20 000

Workshops - $20 000

Travel & subsistence -

$5 000

Other $10 000

Total $115 000

10

Rewards

AS

M deposits - $60m

per annum

.

Increase transactional incom

e by $620 000/annum

from this sector

Increased branch visibility

11

Conclusion

Opportunity - $60 m

illions in float deposits

Proposal – Bank the unbanked

AS

M Cost – ($115 000)

Implem

entation Timefram

e

12