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Namibia: EBank Opens to the Public.Only accessible through internet and cell phone technology


November.07.2014 0 Comments

ebankEBank Limited has opened its doors to the public. Ebank chief executive officer Michael Mukete says the new commercial bank aims to deliver cost-effective, accessible and user-centric banking for all Namibians. It is only accessible through internet and cell phone technology.

The bank offers two accounts – the Easy account and Smart account – which are optional to individuals with different bank requirements and charges.

The ‘Easy’ account can be created by individuals using their cellphones, while the Smart account can only be created by contacting the EBank office.

“Instead of traditional branches, we have concluded partnerships with retailers across the country.

As of today, EBank clients can already perform transactions at close to 100 outlets countrywide. We are very proud of our network of retail partners,” said Mukete.

He explained that any EBank clients can deposit funds into their accounts, and withdraw funds from their accounts at any till point at these retail partners. The partners are Woermann Brock, Agra and Checkers.

The transactions provided include cashing money in and out at a retail partner, and paying a retail merchant.

A number of other services such as buying electricity and airtime and viewing a mini-statement are also available via cell phone. No card is needed to make transactions at any of the retailer outlets.

“We are also busy rolling-out at Engen Quick Shops countrywide, which will enable our clients to buy fuel and goods at Engen by only using their mobile phones. This is a unique solution to the problem currently being experienced in the fuel industry caused by the phasing out of fuel cards,” Mukete said.

The EBank shareholding structure involves Pointbreak Group Namibia and South African banking solutions’ provider TYME (Take Your Money Everywhere), which own 42,44% each.

The remaining 15,12% is owned by Monica Kalondo, the bank’s chairperson, and local businessman Martin Shipanga. – Nampa