JUST one in five Africans have a bank account. This is an enormous opportunity for companies looking to bank the unbanked but it doesn’t come without a few challenges.
Alishia Seckam and the Africa Inc team speak to banking CEOs about how they are navigating the sector and the show also takes a look at whether financial institutions or telecoms operators should be running mobile banking initiatives.
Barclays Africa’s core markets are in Kenya, Ghana, Botswana, Zambia and SA. CEO Maria Ramos says although growth in Africa has slowed this year, this also presents an opportunity to service a client base with the kind of products and services it is looking for in these key markets. Nedbank CEO Mike Brown says despite losses incurred at its Ecobank division, the bank still sees potential in Africa.
Ramos and Brown tell Business Day TV why their companies are banking on Africa when their respective parent companies are looking to cut ties with the continent.
Ahmed Cassim, Chief Commercial Officer of the Hello Group, shares his thoughts on the race to bank the unbanked as mobile phone operators look to offer more banking services and banks develop technology for mobile banking.
Sven Richter, fund manager at Drakens Capital explains the challenges facing banks in Kenya and Nigeria in particular.
• Africa Inc airs on Business Day TV channel 412