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Mobile Banking uptake soars in Africa

The Channel Post Staff
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South African-based First National Bank (FNB) is seeing a rapid uptake of its cellphone banking services in Africa. According to the bank, it has recorded year-on-year growth of 376% in Zambia, 277% in Botswana, 204% in Namibia and 473% in Swaziland. Danny Zandamela, CEO of FNB Africa says: “When we introduced our cellphone banking solution into other African countries, sceptics were not convinced by this channel as being a successful financial offering. However, the numbers are seeing confirmation that the African continent is actually an ideal market for mobile banking services.”
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