The All Media and Products Survey (AMPS) conducted by the South African Advertising Research Foundation during the 2011(B) period have revealed that FNB has the largest market share for Cellphone Banking.
The survey shows that FNB’s Cellphone Banking market share amounts to 33%. In the last three years the number of registered FNB Cellphone Banking customers has grown exponentially, and the average monthly transaction value processed on the channel exceeds R2 billion. The service attracts a diverse market of techno savvy and ordinary cellphone users.
Ravesh Ramlakan, CEO of FNB Cellphone Banking Solutions says, “Cellphone Banking remains at the forefront of innovative banking and has found its adopters mainly amongst young people under the ages of 40.”
The AMPS survey shows that FNB has the highest proportion of Cellphone Banking users between the ages of 19 to 40 years, with 75% of users in this age group. This indicates its popularity among younger consumers. 2% of consumers are under 18, with 20% of Cellphone Banking users being between the ages of 41 to 60 years and 3% are over 61 years old.
The increased adoption of Cellphone Banking by consumers is indicative of the need for innovative banking solutions.
The range of services offered to FNB Cellphone Banking users has grown exponentially since the service was first launched in 2005, with recent innovations namely, FNB Vouchers via facebook that are created using Cellphone Banking and shared via facebook, Cardless Cash Withdrawal facility – which allows FNB customers to withdraw money from a FNB ATM without the need of a bank card using only their cellphone and Pay2Cell which is a facility that enables FNB customers to pay another FNB customer without having to know the account details of the customer but only their cellphone number.
“Our aim is to enhance our products and ensure that our innovative banking solutions compliment our consumers’ lifestyles,” concludes Ramlakan.
FNB currently offers its Cellphone Banking service in South Africa and to five other countries, which include Botswana, Lesotho, Swaziland, Zambia and Namibia.
Top parliamentarian to address youth in Bay
June 8, 2012: The Coega Development Corporation (CDC) is putting youth matters high on the agenda in Nelson Mandela Bay this month after securing leading parliamentarian Mlungisi ‘Lulu’ Johnson to deliver a lecture at its monthly Coega Business Forum.
The forum will be held in New Brighton on Monday (SUBS: 11 June).
“There is no better person than Mlungisi ‘Lulu’ Johnson to address the youth on the opportunities and obstacles they face,” said Ayanda Vilakazi, Coega Development Corporation head of marketing and communications. “He has literally run the gauntlet when it comes to engaging youth issues – both when he was young and still today.”
Mlungisi ‘Lulu’ Johnson, who is from Port Elizabeth originally, has been a Member of Parliament since 2004. He served as the African National Congress Youth league (ANCYL) president from 1994 to 1996 and in several other influential positions including being a member of the ANC National ExecutiveCommittee; ANC Secretary for New Brighton; and President of Congress of South African Students(COSAS) from 1983 until it was banned in 1985.
He is currently the chairpersonof the Portfolio Committee on Agriculture, Forestryand Fisheries and the Co-Chairperson of the ad hocCommittee of the National Youth Development Agency(NYDA).
Johnson will speak about the challenges facing the youth today and the solutions that will lead to a programme of action.
“This forum takes place at a critical juncture for the youth of South Africa and is an opportunity for youth to network, debate and share information on youth matters with youth interest groups, stakeholders and other local organisations,” added Vilakazi.
The CDC has a strong focus on youth development through its intern programme which has seen 248 people pass through its doors since it started in 2005. It also has a one-of-a-kind driver training programme which teaches the youth driving skills, making them more employable. To date, the CDC has provided free driving training to over 500 unemployed graduates and youth in the Eastern Cape.
“Moreover, our Human Capital Solutions unit has registered more than 198 000 people for future employment, put over 43 000 into employment and trained more than 8 000 in the past year,” said Vilakazi.
“Part of our commitment to development is creating an environment – both for our staff and the people of Nelson Mandela Bay – for deeper understanding of the issues confronting South Africa. The outcome of this commitment is the business forum and engagement with calibre speakers such as Mlungisi Johnson.”
The Coega Business Forum was initiated earlier this year and has already hosted top level strategic thinker Dr Clem Sunter and political economy analyst Zamikhaya Maseti, with further agenda-setting speakers planned for the remainder of the year. The Coega Youth Day Business Forum takes place on Monday, June 11 at the Nangoza Jebe Hall in New Brighton, Port Elizabeth from 6:30pm. The event is free, but space is limited.
