BUSINESS BEYOND COVID
MUZI NKOSI: Digital banking is key to firms successfully managing Covid-19 fallout
Banks will be required to provide systems that will dramatically widen the scope use of e-money
While digital banking growth in Sub-Saharan Africa had mostly been propelled by the need to improve access to the financial ecosystems of the unbanked through use of smartphones and mobile money, the advent of Covid-19 brings with it a new stimulus to large and small businesses to increase their use of digital banking in an effort to better cope with the pandemic.
The pandemic will act as an unforeseen accelerant of the adoption of, and improvements to, banking technology for Africa’s corporate banks and their business clients, which will become increasingly necessary to sustain their business activities. ..