July 12, 2021

Why we are digital bank only ― DafriBank’s MD

Why we are digital bank only ― DafriBank’s MD

The overarching need to save customers needless hidden charges is the main reason DafriBank is conceived as a digital only-bank, the bank’s managing director has stated.

DafriBank Digital, a borderless financial technology company servicing over 180 countries through its global bank agent network is a subsidiary of DafriGroup PLC, a company incorporated in South Africa, Nigeria, Botswana and Comoros Island but headquartered in South Africa founded by Xolane Ndhlovu.

Catherine Anajemba, Managing Director of DafriGroup and its 16 subsidiaries, said: “The traditional financial systems with concentrated physical infrastructure incur huge non-value-added costs, which are ultimately borne by the clients. By going fully digital, we are harnessing the developments in technology globally with the aim to provide much more efficient and satisfactory services,”

Anajemba further gave an insight about the scope of DafriBank’s operation: “For now, we aim to largely serve Digital Entrepreneurs and merchants – the class that has found the traditional financial platforms insufficient. However, as we move further, we shall be innovating, improvising and introducing solutions that will elevate the experience of everyone connected with African and even overseas Finance.”

DafriBank, whose various offers include savings account, business account, merchant API, cross border payment, private banking and offshore account, is described by its managing director as the best bank around. “Simply put, everything that PayPal and Skrill do, we do it 50 times cheaper and faster,” avowed Catherine Anajemba.

In June, Dafribank Digital staged a giveaway contest on its Facebook page which culminated in winners across four African countries.

“We regularly aim to reward our clients and the overall audience and spread awareness surrounding financial literacy and our business. The giveaway contest was a small step towards our vision,” Anajemba explained.