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FNB customers embrace digital banking channels – Banking app grows by 43%

FNB customers embrace digital banking channels – Banking app grows by 43%

FNB Namibia this week revealed that over the last year, the highest number of customers migrated to the FNB Banking App, Online Banking and Cellphone banking for day-to-day banking were recorded.

According to the bank this signals that customers are increasingly embracing digital banking channels in order to bank in a convenient and affordable manner.

“The major driver has been our effort to show customers how easy, affordable and safe it is to use digital platforms, including self-service channels such as automated deposit tellers (ADTs) that are available across most FNB branches. This digital journey is enabled through sustained investment in digital infrastructure which continues to be intensified through self-service innovation,” said Desery van Wyk, FNB Manager of Digital Channels.

Van Wyk said, “today banking is remarkedly different compared to a few years ago and the evolution continues to yield meaningful benefits for customers.”

“Currently, our customers spend less time queuing at our branches, and many prefer using self-service channels to make deposits or to purchase prepaid products. We have also seen an important shift in the way our branch personnel interacts with customers, which includes helping individual and business customers adapt to using the digital channels, thus creating more time to help customers with more complex transactions,” she added.

In a society where, financial inclusion remains a major challenge, it’s very important to enable digital adoption through channels that are affordable and accessible to all people, whether the customer is new to bank or they have been banking for a long time. Digital remains a remarkably convenient platform.

FNB has seen an increase of 5% transactions at ATM’s and our Automatic Deposit Taking machines, a 15% increase in swipes, a 32% increase in online banking; 7% increase in cellphone banking, and a 10% increase in eWallet transactions over the past year, while usage of the FNB App grew with 43%.

“The migration of customers to digital platforms is not only about cost effectiveness, it’s also about convenience for our customers and giving them options to bank in a way that is most cost effective. To enhance the customer experience even more, FNB provides customers with free wi-fi in various branches so that the App could be downloaded at no data charge,” added van Wyk.


 

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.