Are we prepared for Africa’s next frontier?

Wabo Moswate Stanbic Bank Botswana Head of Everyday Banking Lending and Cash
Wabo Moswate Stanbic Bank Botswana Head of Everyday Banking Lending and Cash

Bill Gates famously stated, way back in 1994, that “Banking is necessary, banks are not.” As with many things, Mr. Gates appeared to be right on the proverbial money well before others even caught wind of the digital revolution’s arrival.

But, and I mean no disrespect to the Microsoft Founder, but perhaps his utterance was perhaps slightly simplistic given our current reality and the needs of the modern consumer.

Banking today exists in entirely different forms than when the concept was first birthed centuries ago. The rise of mobile money, fintechs and other more transformative platforms has meant that banking itself now wears a different proverbial cloak – we can transact, plan, budget and save – indeed even more than this – in a multitude of different ways that now accommodate the need for greater inclusion and accessibility, that are mindful of more transitive and mobile needs, and which take cognisance of increasing technological advancements. Today, these advancements range from simulation and augmented reality to big data analytics and the industrial internet of things, and even to new business models, artificial intelligence and horizontal and vertical integration and supply chain intricacies.

Editor's Comment
Molepolole unrest: Urgent attention on missing person cases

From Jakoba's mysterious disappearance on November 9 to the grim discovery of his remains at Mosinki Lands, a gap in the response mechanisms of the police and village leadership has been laid bare. The community's anger is evident, seen in the attack on Bakang Masole, the man found driving Jakoba's taxi and the main suspect, and the subsequent riot. Residents express discontent, citing a troubling trend of missing persons cases often...

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