Standard Bank has finally confirmed one of the telecommunications industry’s worst-kept secrets: it will launch a mobile virtual network operator (MVNO), becoming the second major bank in South Africa to do so.
Browsing: Banking
South Africa will strive to allow competition into its banking system in a way that won’t threaten the stability of the industry as more and more entrants seek to rival the nation’s biggest lenders.
South African banks are reporting phenomenal growth in the use of banking apps despite the country’s finite banked population, stagnant levels of smartphone penetration and relatively low levels of financial literacy.