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
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