South African Billionaire’s Bank, TymeBank Enters Into A Strategic Partnership With ZCC Church

A bank in which Billionaire Patrice Motsepe’s African Rainbow Capital (ARC) has a majority shareholding stake in, has entered into a strategic partnership with Bishop Mutendi‘s Zion Christian Church, Financial Gazette reports.

The partnership will see ZCC members in South Africa being offered a ZCM (Zion City Moria) Membership Card, which will serve as a membership card and the member’s bank debit card simultaneously.

The card will also offer the following benefits:

  1. Extra Smart Shopper rewards on Pick n Pay purchases;
  2. Zero-rated data for SmartApp
  3. Internet banking
  4. Security access control

Speaking at the launch of the ZCM, Motsepe said;

All of these investments, along with many others, challenge the status quo in terms of the often relatively high cost base that makes it very challenging and unaffordable for ordinary people to enroll for financial products or services.

It is through participation in the formal economy that people are afforded the opportunities to improve their lives, the lives of their families and their communities

ZCC is the largest indigenous church in Southern Africa with over 12 million members in the region.

More: Financial Gazette 

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