InnBucks has returned this time in association with Ndoro Microfinance after a suspension by the Reserve Bank of Zimbabwe (RBZ).
In April this year, the RBZ shut down InnBucks, a loyalty product that grew into a money transfer platform, saying it wasn’t licensed to do the latter.
The company responded at the time:
“To our Valued Customers,
The Press Statement issued by the Governor of the Reserve Bank of Zimbabwe on 20 April, 2022 refers.
InnBucks has been and remains engaged with the regulator in respect of its ADLA license.
Regrettably an impasse has occurred in respect of which the Simbisa Board is engaging the regulator with a view of achieving a speedy and amicable resolution.
Pending further statements, we assure you that funds held in the InnBucks accounts remain secure and all product purchases and cash withdrawals will be honoured as per regulations.
Thank you for putting your trust in us.
By order of the Simbisa Brands Limited Board of Directors.
Meanwhile, Ndoro was authorised as a deposit-taking microfinance business in March.
Zwnews
