We harness technology to provide satisfactory services -Dafribank boss

Our Reporter

The Digital Bank of Africa popularly called DafriBank founded by Xolane Ndhlovu, a South African/Nigerian entrepreneur has enhanced the traditional banking model with a digital approach to banking.

According to Dafribank chairman, Xolane Ndhlovu :”The traditional financial systems with concentrated physical infrastructure incur huge non-value-added costs, which are ultimately borne by the clients. By going fully digital, we are harnessing the developments in technology globally with the aim to provide much more efficient and satisfactory services”.

Dafribank which is officially starting its operations to the public on July 7, 2021, aims to leverage the digitization of the financial sector to serve the digital entrepreneurs who have been largely ignored by conventional banks.

Xolane Ndhlovu, said: “Our goal is to leverage the digitization of the financial sector to serve the digital entrepreneurs who have been largely ignored by the conventional banks. We also aim at reducing the costs of finance significantly through the use of more efficient technology, which would directly benefit our clients”.

On what drives him to contribute to the financial sector, the revered entrepreneur said his inspiration stems from individuals striving hard to create change against all odds.

“There are a lot of people who need help in our world and there are those out there doing their very best to give it to them. Every time I see someone working hard to create change or make life better for people I get inspired”.

Xolane Ndhlovu, who is born to a Nigerian father and South African mother also added that the bank has plans to become a full-fledged commercial bank in Nigeria.

“There are plans to become a full-fledged commercial bank in Nigeria in the nearest future. However, through our subsidiaries in Nigeria, we have demonstrated our willingness to contribute to Nigerian economic development and the future of our Nigerian youth. In 2020, we launched a N100 million educational grant initiative which currently has 25 students in various private schools”.