{"id":65500,"date":"2025-03-16T06:55:46","date_gmt":"2025-03-16T06:55:46","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/fnbbs-e-wallet-boom"},"modified":"2025-03-16T06:55:46","modified_gmt":"2025-03-16T06:55:46","slug":"fnbbs-e-wallet-boom","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/fnbbs-e-wallet-boom","title":{"rendered":"Fnbb\u2019S E-Wallet Boom!"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Botswana. <\/strong><\/span><b>P15.3m Monthly Transactions and 27% Growth in Just Six Months<\/b><\/p>\n<p>First National Bank Botswana (FNBB) continues to make waves in the financial sector with its flagship product, the e-wallet, which is soaring in popularity. Delivering the bank\u2019s six-month financial results this week, Chief Financial Officer, Dr. Mbako Mbo, revealed that the e-wallet service is growing at an explosive rate, recording a staggering 27% increase, with 8.7 million e-wallets sent, up from 7.1 million in the previous period.<\/p>\n<p>The e-wallet\u2019s success is further highlighted by its monthly transaction value of P15.3 million, showcasing its growing role as a preferred financial tool for customers. In addition to the bank\u2019s success, FNBB\u2019s newly introduced e-wallet Pro, designed to replace discontinued cheque payments, has also gained significant traction. Since its launch last year, with just 60 cards issued, the service now boasts 1,400 cardholders, 27,000 transactions (up from 330), and 357 business clients (up from 24).<\/p>\n<p>\u201cThe discontinuation of cheques led to a shift in payment solutions, and we responded with eWallet Pro, providing businesses with a secure, cashless alternative,\u201d explained Dr. Mbo. \u201cThis was one of the many solutions introduced to empower Batswana with financial tools that drive efficiency and accessibility,\u201d he added.<\/p>\n<p>Beyond digital banking, FNBB says it remains committed to financial inclusion through initiatives such as its CashPlus service, which has facilitated P3.9 billion in transactions since its launch, with P1.5 billion transacted in remote areas. This service, according to Dr. Mbo, has paid out P63 million to its 1,675 agents nationwide, 58% of whom are based in remote areas, exceeding the bank\u2019s 30% target for financial inclusion.<\/p>\n<p>FNBB reported a 14% increase in profit before tax, reaching P1.004 billion compared to P879 million in the previous period. This growth is fuelled by increased transaction volumes, advances across all segments, and a reduced cost growth rate. The bank\u2019s total assets swelled by 9% to P35.3 billion, supported by a 12% increase in deposits to P29.3 billion. Retail deposits grew by 10%, driven by current and call account balances, while corporate and commercial deposits saw a slight decline of 4%, reflecting the bank\u2019s strategic stance on deposit mix amid market liquidity pressures.<\/p>\n<p>Dr. Mbo emphasised FNBB\u2019s broader commitment to financial inclusion, highlighting the bank\u2019s investment in SMEs, digital banking solutions, and community upliftment programmes.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Botswana<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Botswana. P15.3m Monthly Transactions and 27% Growth in Just Six Months First National Bank Botswana (FNBB) continues to make waves in the financial sector with its flagship product, the e-wallet, which is soaring in popularity. Delivering the bank\u2019s six-month financial results this week, Chief Financial Officer, Dr. Mbako Mbo, revealed that the e-wallet [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":65499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234],"class_list":["post-65500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-botswana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fnbb\u2019S E-Wallet Boom! - Botswana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/fnbbs-e-wallet-boom\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fnbb\u2019S E-Wallet Boom!\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Botswana. P15.3m Monthly Transactions and 27% Growth in Just Six Months First National Bank Botswana (FNBB) continues to make waves in the financial sector with its flagship product, the e-wallet, which is soaring in popularity. 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