First National Bank (FNB) will begin offering cellphone banking in Botswana, in partnership with Mascom, from 24 November.
This will be the first time that a bank rolls out the service across countries, FNB says in a media statement.
"FNB is excited to be the first South African commercial bank to export its cellphone banking model," says FNB Mobile Transact CEO Len Pienaar.
The service will initially only be available on the Mascom cellular network, which has approximately 500 000 subscribers, he says.
However, FNB Botswana envisages activating cellphone banking on the country's second cellular mobile operator, Orange, in the near future, he adds.
"FNB is confident its cellphone banking technology will be applied successfully across borders to address one of the key challenges facing developing countries, which is providing convenient access to banking for the previously unbanked."
However, Pienaar stresses that each country has unique needs. The venture is driven by FNB Botswana, together with its mobile partners, he notes.
FNB Botswana CEO Danny Zandamela says cellphone banking is perceived as a viable option to extend banking to more of Botswana's population.
Zandamela notes that a quarter of Botswana's 1.6 million people presently make use of banking services. "We are hoping to increase that figure with a service which is convenient, accessible and affordable," he says.
Absa media relations manager Errol Smith says while Absa is not planning to roll-out cellphone banking across countries in the immediate future, it is only a matter of time before the bank does so.
"Our experts are already working on our African offerings, and expansion to other countries is on our minds," he says.
Smith notes that MTN's African footprint, as well as the door being opened for Vodacom to expand into Africa, present opportunities for Absa to provide its mobile banking services to the rest of Africa, especially in countries where Absa and Barclays already have a presence.
Nedbank and Standard Bank could not be reached for comment by the time of publication.
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