NMBZ Holdings Launches A Technology Subsidiary: XPlug Solutions.
NMBZ Holdings today launched yet another subsidiary, XPlug Solutions, an innovative technology company. The launch event was delivered in the form of a tech fair with product stalls offering interactive experiences of the products and services offered by XPlug.
This launch brings to 3 the number of verticals that NMBZ has set up in less than a year. Earlier in the year, the bank established a Microfinance Division and in May of 2023, they set up a standalone Property Company, NMB Properties
“Our journey began with a dream, a dream of harnessing technology to address the unique challenges faced by Africa and to capitalize on the abundant opportunities within our grasp. This is not just the launch of a company, but a testament to the ingenuity, resilience and untapped potential of Africa.Xplug has been carefully crafted to cater to the ever-evolving needs of businesses in this digital era, particularly in Africa. For a very long time, Zimbabwe and even Africa have been heavily reliant on imported solutions for Technology and Digital transformation. XPlug is set to redefine the landscape and will see us being able to provide functional, reliable, and innovative home-grown solutions for Zimbabwe, Africa, and even beyond.” Said Gerald Gore, NMBZ Group CEO in his remarks.
XPlug Solutions launched a wide range of products and services including Software Solutions Development, Robotic Process Automation, Digital Banking Solutions, Agency Banking Platforms, end-to-end digitized customer onboarding solutions, paperless internal workflow solutions, Cyber Security Consultancy and Architecture. The company showcased solutions that are in use by some of their clients both in Zimbabwe and other African markets. The company has developed over 35 fintech products in Zimbabwe and is deploying some of these solutions in regional countries including Zambia, Mozambique, Tanzania, and Uganda., Robotic Process Automation, and customizable workflow solutions. On Showcase were solutions developed for their current clients.
“Innovation has always been at the core of NMBZXPlug, our innovative technology subsidiary, is set to redefine the landscape of digital transformation and technology services, not just in Zimbabwe but in Africa and beyond. As a holdings company, NMB has been a cornerstone of the financial sector for three decades, providing exceptional banking services and financial solutions. Over the years, we have built trust and credibility among our clients, partners, and stakeholders. Just a few months back we launched yet another subsidiary NMB Properties and today we expand our vision with the establishment of Xplug, an embodiment of our commitment to adapt, grow, and stay at the forefront of innovation.” Said the NMBZ Holdings Board Chairman, Benedict Chikwanha.
Gracing the event was the Reserve Bank of Zimbabwe, Director-Banking Supervision Mr. Philip Madamombe who in his speech said ‘The regulator's understanding of the importance of technological advancement and openness to innovation has always been made known and we commend the drive shown by NMBZ Holdings to match this. Innovation is not a solitary endeavor, it requires the support and collaboration of various stakeholders and we look forward to working well with XPlug Solutions. The event was also attended by XPlug Clients, NMBZ Holdings clients and partners, Board members, and members of the Press.
NMBZ Holdings is a Zimbabwean-based investment holding company listed on the Zimbabwe Stock Exchange.