InnBucks MicroBank Limited explained

InnBucks MicroBank Limited is a deposit taking micro-finance registered and regulated in terms of Zimbabwean law. It offers banking and financial services to individuals and public.^[1] It was formed as registered corporate after acquiring and renaming of Ndoro Micro-finance in 2022.^{[2] [3] [4]}

InnBucks MicroBank Limited is owned by a publicly traded company called Simbisa Brands and is part of Innscor Africa network of companies.^{[5] [6]}

InnBucks

InnBucks is money transfer service regulated by Zimbabwean laws and owned by InnBucks MicroBank.^[7] Its primary purpose is providing remittances transfer services to the general public.^{[8] [9] [10]}

Background

InnBucks was formulated as loyalty program by Simbisa Brands, it later on expanded into remittances platform before it was banned by Reserve Bank of Zimbabwe. It came back some time later as a licensed product after Simbisa Brands acquired Ndoro micro-finance and renamed it, to InnBucks MicroBank Limited.

Competitors

• EcoCash
• Omari
• Mukuru
• World Remit
• Western Union
• Mama Money
• Mojo Mula
• Senditoo

Products and services

• Personal banking
• Business banking
• International banking
• International remittances
• Personal and business Loans
• Treasury and structured finance

Notes and References

1. Web site: InnBucks . 2023-12-02 . innbucks.co.zw . en.
2. Web site: InnBucks bounces back, now a product of Ndoro Microfinance Bank – Nehanda Radio . 2023-12-02 . nehandaradio.com.
3. Web site: 2022-08-15 . InnBucks Announces Its Return With New Partnership With Ndoro Microfinance Bank . 2023-12-02 . GREEDYSOUTH . en.
4. Web site: Sengere . Leonard . 2022-08-15 . InnBucks is back as a bank, is it still as low cost as it was before? . 2023-12-02 . Techzim . en-US.
5. Web site: Moyo . Lily . 2023-03-16 . Innbucks: Here Is All You Need To Know About The Simbisa Brands Mobile Online Payment Service App . 2023-12-02 . Zimbabwe Profiles . en-US.
6. Web site: Staff Writer . 2022-04-20 . RBZ bans Simbisa's InnBucks with immediate effect! . 2023-12-02 . Techzim . en-US.
7. Web site: Moyo . Lily . 2023-03-16 . Innbucks: Here Is All You Need To Know About The Simbisa Brands Mobile Online Payment Service App . 2023-12-02 . Zimbabwe Profiles . en-US.
8. Web site: Sengere . Leonard . 2023-04-28 . InnBucks now giving loans, here is everything you need to know about them . 2023-12-02 . Techzim . en-US.
9. Web site: Zimbabwe’s InnBucks Gets Green Light to Resume Services - NextBillion . 2023-12-02 . nextbillion.net . en-US.
10. Web site: 2023-09-05 . How Zimbabwe’s biggest fast-food company became a popular fintech solution . 2023-12-02 . Rest of World . en-US.