Steward Bank, a Zimbabwe-based lender, has launched a new product range for Zimbabwean diaspora living, working and studying in the UK.
The suite of Diaspora Banking products, that has been launched 2 April, 2015, includes savings and current accounts, diaspora EcoCash banking, Steward Health, Ecosure, a phone purchase scheme services and remittances.
The products, which have previously been rolled out in South Africa and Namibia, offer a real-time transaction mode without interference of a middleman.
Steward Bank acting CEO Lance Manbondiani said: "We thought particularly about the challenges of having to rely on others to make local payments on their behalf. Diaspora banking opens up a myriad of possibilities.
"Building a house becomes much easier as you can pay suppliers and contractors directly; sending money to parents in rural areas is also made easier as they can simply receive the money via Ecocash directly onto their mobile phone."