EBank, banking on mobile connectivity

Newly registered commercial bank Ebank has appointed its management team and revealed that operations would commence in little over a month after its launch.
The EBank Board of Directors will include, John Steytler, Statician General of NSA; Yvonne Dausab, Deputy Dean of the Law Faculty at UNAM; Martin Shipanga, former Managing Director of Nedbank;  Coenraad Jonker, CEO of TYME SA; Geral Riedel, Executive Director at EBank and Monica Kalondo, Managing Director of Stimulus.
EBank newly appointed Chief Executive Officer, Mike Mukete announced this week that the bank will roll out its trial phase to a select few individuals and organisations. Mukete Former Bank of Namibia Governer will also serve as Executive Director. “EBank is a fully-fledged commercial bank that leverages internet and mobile technology to deliver cost effective, effficient, accessible and user-centric banking for all,” he said.
Mukete added, that the bank will provide for people to open a bank account of their choice with extensive banking functionalities. At launch clients will access these functionalities through various channels which include internet, mobile and a network of partner agents and merchants. Monica Kalondo EBank Chairperson said, “we investigated various banking models, consulted a wide range of subject matter expetts and the public, to find a solution that is best suited for the market. With the advances in technology, internet use and the high penetration rates of mobile telephony, it was clear to us that the Ebank model is an appropriate solution for a market like ours.”

EBank partnered with South African mobile telecommunications company MTN and TYME (Take Your Money Everywhere)as they shared the same ambition to make access to and inclusion in the broader economy a reality for all.
TYME holds 42.44% of current shareholding develops and builds operating systems as with MTN’s Mobile Money while Pointbreak Group Namibia holds 42.44 percent with the remaining 15.2 % owned by key management. The intention, over time, will be for share holders to further dilute and include more local people and staff in the shareholding stakes.