Let's move to security in mobile banking

Other major banks, among them, Barclays and Stanbic are also introducing cellphone banking. We think this an important chapter in the development of Botswana's banking industry. This will not only improve the banked to much more easily access banking services, but will also make it easier for those who remain out of reach to finally join those already using banking services. Banking services, despite the many criticisms, remain an integral part of a secure financial system.

Mobile phone penetration in this country continues to improve to cover even the remotest regions. It would not be far-fetched to say that in every family in this country there are a number of cellphone users. In fact it is no longer unusual to find a senior citizen utilising cellphone technology. Also members of the working class in urban areas stay in constant touch with their relatives and dependents, largely in rural areas. The ability to use cellphones in conducting financial transactions should therefore, lead to expanded access to banking services by everyone.