A leading Harare-based company, Unihold Investments, has introduced a technologically advanced smart safe for smooth banking purposes.
Zimbabwe remains a uniquely cash-driven economy.
However, despite the rapid growth of digital platforms, physical currency continues to play a critical role in everyday transactions — from fuel stations and supermarkets to informal traders and rural distributors. This has resulted in managing cash remaining one of the most expensive, risky, and inefficient processes for banks and businesses alike.
The introduction of a quiet technological revolution, in the name of a smart safe, however, is reshaping how forward-thinking economies handle physical money.
A smart safe is an intelligent cash management device installed at business premises that validates and counts cash automatically.
It also detects counterfeit notes, stores cash securely, transmits transaction data in real time and enables provisional credit from partner banks.
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“In simple terms, it turns every retail store, fuel station, or distributor warehouse into a mini secure cash processing centre,” said Unihold Investments chief executive director Lewis Chikomo during an exhibition of the smart safe in Msasa, Harare, recently. “For Zimbabwe, where cash logistics remain costly and high-risk, this technology could be transformative.
“Banks in Zimbabwe carry significant operational burdens — high branch cash handling costs, expensive cash-in-transit (CIT) logistics, manual reconciliation delays, counterfeit risks and security exposure.
“Retailers deposit cash into smart safes on site instead of transporting it daily to bank branches. Moreover, banks monitor cash levels remotely. This improves liquidity forecasting and reduces idle cash.”
He added that retailers receive same day credit once cash is validated in the safe — improving cash flow without physical delivery.
“Armoured vehicle collections become optimised and demand-driven, reducing operational costs. For banks operating under tight liquidity conditions, this creates a more efficient and data-driven cash ecosystem,” Chikomo said.
Smart safes also reduce theft risks through limiting staff exposure to cash.
“Cash is deposited throughout the day, reducing till exposure and making robbery less attractive,” he said. “Automated counting removes human error and improves accuracy. Each deposit is logged by user ID and timestamp, creating audit trails. With bank-linked smart safes, businesses can access credited funds immediately instead of waiting for physical banking.
“For retailers operating on thin margins, these efficiencies can significantly improve profitability.”
Zimbabwe’s distribution networks — especially in FMCG, agriculture inputs and fuel — are heavily cash-based.
Field sales agents collect money daily from rural shops and informal traders.
Smart safes installed at depots or regional hubs consolidate daily collections securely.
They also digitise cash reporting, reduce pilferage and enable better sales analytics.
“This brings structure and transparency to sectors traditionally viewed as difficult to formalise,” Chikomo said.
“In a country where cash remains central to commerce, the question is not whether cash will disappear. It is whether Zimbabwe will modernise how it manages it.
“Smart safes offer a practical bridge between physical currency and digital accountability. For banks, retailers, distributors and the broader economy, the technology represents not just improved security — but operational transformation. The future of cash in Zimbabwe is not less cash. It is smarter cash.”
Unihold is a fully-fledged office machine and consumables retail firm that was established in 1997 by entrepreneur Erizel Chikomo.
The company’s vision is to lead Africa in intelligent cash management solutions that powers secure and efficient economies.