Business / Companies
BancABC rewards top depositor
05 Aug 2016 at 06:33hrs | Views
Chinotimba Primary School in Victoria Falls has won a vehicle in a competition being run by BancABC Limited.
The bank launched the competition last year under which it rewards institutions that maintain a minimum monthly balance of at least $10 000.
This is meant to encourage businesses and institutions to keep their money in banks.
Chinotimba Primary School was on Tuesday presented with the prize of a Nissan truck after beating 200 other schools countrywide, to become the winner of the competition for 2016.
The prize came as a surprise to the school as the bank management kept it a secret until the event.
It was joy and jubilation as pupils and teachers welcomed the car with song and dance with children going into a chorus "Thank you to BancABC."
Presenting the prize at the school BancABC head of retail department Mr Rufaro Hatendi said the financial institution was a bank for schools.
"We started this campaign last year and Chinotimba Primary School was one of the schools that participated after opening an account with our Victoria Falls branch.
"I am pleased to say Chinotimba Primary School came out the winner of the competition out of 200 schools participated countrywide and therefore wins this truck," said Mr Hatendi.
An elated Mrs Cynthia Khumalo, Chinotimba Primary headmistress, said the gesture transforms the school into a self-sustaining institution.
"We are very excited as a school and we want to thank BancABC for this gesture.
"We are no longer going to hire transport for our activities especially when we go to procure our items such as cobra and books as well as carrying equipment for our extra-curricular activities," said Mrs Khumalo.
She said the school now has a fleet of three vehicles.
"This came as a surprise to us as we were only told today. We knew they were coming but we didn't know the reason as we waited the whole day.
We are now a self-sufficient school. We had an Elgrand and a bus we purchased is on its way and this adds to our small fleet.
"We opened an account with the bank and deposited money, which we were saving to buy a bus.
Each parent was paying $55 towards purchase of a bus and we had a balance of $60 000 in our account when we entered the competition and we made sure it had at least $10 000 every month," added Mrs Khumalo.
She said the school will maintain the account with the bank.
BancABC is an innovative banking and wealth creation partner that offers world-class financial products and services that include corporate banking, treasury services, retail and SME banking.
The competition is tailor-made for burial societies, associations, non-governmental organisations, schools, churches and embassies.
To qualify, the account holder has to maintain a minimum balance of $10, 000 or more per month.
This institutional account can assist in achieving earnings on daily cash at no monthly fixed fee with free access to savings.
The bank launched the competition last year under which it rewards institutions that maintain a minimum monthly balance of at least $10 000.
This is meant to encourage businesses and institutions to keep their money in banks.
Chinotimba Primary School was on Tuesday presented with the prize of a Nissan truck after beating 200 other schools countrywide, to become the winner of the competition for 2016.
The prize came as a surprise to the school as the bank management kept it a secret until the event.
It was joy and jubilation as pupils and teachers welcomed the car with song and dance with children going into a chorus "Thank you to BancABC."
Presenting the prize at the school BancABC head of retail department Mr Rufaro Hatendi said the financial institution was a bank for schools.
"We started this campaign last year and Chinotimba Primary School was one of the schools that participated after opening an account with our Victoria Falls branch.
"I am pleased to say Chinotimba Primary School came out the winner of the competition out of 200 schools participated countrywide and therefore wins this truck," said Mr Hatendi.
An elated Mrs Cynthia Khumalo, Chinotimba Primary headmistress, said the gesture transforms the school into a self-sustaining institution.
"We are very excited as a school and we want to thank BancABC for this gesture.
She said the school now has a fleet of three vehicles.
"This came as a surprise to us as we were only told today. We knew they were coming but we didn't know the reason as we waited the whole day.
We are now a self-sufficient school. We had an Elgrand and a bus we purchased is on its way and this adds to our small fleet.
"We opened an account with the bank and deposited money, which we were saving to buy a bus.
Each parent was paying $55 towards purchase of a bus and we had a balance of $60 000 in our account when we entered the competition and we made sure it had at least $10 000 every month," added Mrs Khumalo.
She said the school will maintain the account with the bank.
BancABC is an innovative banking and wealth creation partner that offers world-class financial products and services that include corporate banking, treasury services, retail and SME banking.
The competition is tailor-made for burial societies, associations, non-governmental organisations, schools, churches and embassies.
To qualify, the account holder has to maintain a minimum balance of $10, 000 or more per month.
This institutional account can assist in achieving earnings on daily cash at no monthly fixed fee with free access to savings.
Source - chronicle
