FNB launches ambitious township banking services in Thembisa

Imbizo Shisanyama and Car Wash restaurant owner Rita Zwane welcomes the FNBAgencyPlus project at its launch at the Matla a Setshaba Hardware in Thembisa. Photo: Sipho Siso

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First National Bank has launched an ambitious project to bring banking services closer to the underserved township communities in South Africa. Launched in Thembisa township, an off shoot of the iconic Alexandra township close to Johannesburg’s financial epic centre of Sandton, and piloted at the Matla a Setshaba Hardware centre, the project, known as the FNB AgencyPlus endeavour, seeks to widen the access to banking services to the formerly marginalised communities during the rule of apartheid regime. Speaking at the launch of the project, CEO of FNB Business Andiswa Bata described it as a bold move designed to make digital access to cash and banking solutions more convenient, secure, and cost-effective for customers and businesses within the township economy. “This move seeks to revitalise and continue to grow the township economy so that people do not have to commute to affluent areas or leave their businesses to access banking services. “Township people pay each other or remit money from one family member to the other using e-wallet and this move by FNB to the townships will also increase that aspect of financial transactions as part of the drive towards financial inclusion,” Bata said. Local businesspeople in the townships are encouraged to register their businesses as agents of the FNB bank to be able to take deposits from community members and enable them to
withdraw cash in their locality and not travel outside to access banking services. Bata said the shop owner also stands to benefit from being an agent of the bank as he or she receives a fee for the services rendered on behalf of the bank, which means more in their
pockets as well. She said the #FNBAgencyPlus services will be rolled out to every township in the country as part of the bank’s deliberate strategy not just to bring access to banking services but as part of a broader strategy to grow the township economies as well. FNB Points of Presence CEO Zibu Nqala said the world of financial inclusion was their oyster and the bank is determined to grow the project extensively. The bank was also working closely with communities and schools to enhance the financial literacy levels as part of the steps to financial inclusion process for the township folks, she added.
Two of the drivers of the project in Thembisa include well-known businessmen and women such as Rita Zwane of the Imbizo Shisanyama and Car Wash restaurant at the Busy Corner, popularly known as MaZwane, founder and CEO of KasiD Freddy Mahhumane, a popular township food delivery service that has plans to branch into international markets, the first target being neighbouring Namibia.

Imbizo Shisanyama and Car Wash restaurant founder Rita Zwane makes a point during discussions at the launch of the FNBAgencyPlus project in Thembisa. Photo: Sipho Siso

At the launch of the #FNBAgencyPlus project are KasD founder and CEO Freddy Mahhumane, CEO of FNB Business Andiswa Bata, FNB Points of Presence CEO Zibu Nuala, and Imbizo Shisanyama and Car Wash restaurant founder Rita Zwane. Photo: Sipho Siso