Billionaire entrepreneur Xolane Ndhlovu launches digital bank | The Guardian Nigeria News
South African and Nigerian billionaire Xolane Ndhlovu has launched the Digital Bank of Africa. Also known as DafriBank, Digital Bank of Africa is a global digital bank founded by Ndhlovu to serve as an electronic payment platform for digital entrepreneurs and merchants.
Born 35 years ago in South Africa to a Nigerian father and South African mother, Ndhlovu’s curious mind has seen him cross other nations of the continent including Zimbabwe, Nigeria and Tanzania. , before settling in South Africa in 2001.
From today, anyone can use DafriBank. Previously, only a privileged few used the digital platform of DafriBank, an offshore bank licensed by the Central Bank of the Comoros.
Ndhlovu created DafriBank Digital to serve as an electronic payment platform for digital entrepreneurs and merchants, and also to meet the banking needs of the continent’s expanding digital entrepreneurial class.
It is borderless, because anyone with internet access anywhere in the world can conduct business transactions, open and manage an account with the bank. According to Ndhlovu, the bank also provides coverage for Africa’s unbanked and underbanked population.
DafriBank Digital is creating an advantage in digital banking services by using technologies that will allow access to a wide range of financial services without barriers to entry. It will house the best digital banking systems providing payment solutions to a range of businesses and platforms.
DafriBank Digital keeps its promise to open up new opportunities for the African people through forward-looking ideals focused on achieving an economically liberated continent.
With its disruptive technology, DafriBank Digital aims to push the boundaries of the African banking community to deliver top-notch digital banking services that will help many businesses discover the real value of their business. The main focus of DafriBank will be to serve the unbanked and underbanked people who have been unfairly excluded from global financial systems due to several factors.
Poverty and lack of resources are among the main problems affecting the banking system in Africa today, culminating in the lack of sustainable banking solutions that meet the needs of the populations. Some important factors influencing traditional banks are cost and leasing, staff salaries, employee training, costs of distributing cash and the plethora of other expenses that have made it nearly impossible to provide services. profitable to customers who have been forced to seek alternatives. These are challenges that the bank is successfully tackling today.
The business caters not only to the rich, but also to the average African. DafriBank Digital is a state-of-the-art financial store that brings together several services ranging from traditional banking services, including savings, deposits, payments and loans, to niche services such as cross-border remittances; all of which will be offered at competitive rates with bank-level speed, ease of access and security at the heart of its operations.