According to a report published by the Independent on-line, Botswana - which is the bank's leading subsidiary outside South Africa in terms of cellphone banking activity, saw just over 1.3 million transactions in the year up to December 2011 and a 126 percent increase year-on-year in the same month. According to research by the International Telecommunications User (ITU), Botswana has 2.3 million cellphone users.
Namibia recorded year-on-year growth of 155 percent, Zambia 308 percent and Swaziland 227 percent. The bank's customers conducted 2.4 million cellphone banking transactions to the value of R214 million(P197.4 million) during December 2011 in Botswana, Namibia, Zambia, Swaziland and Lesotho. Ravesh Ramlakan, CEO FNB Cellphone Banking Solutions, says the growth of the service in African markets is due to consumers' increasing confidence in their mobile handsets as communication devices, coupled with the convenience the solution offers.
