JOHANNESBURG – With entrepreneurs and businesses bleeding technology the DafriGroup stirred up mixture of tech and resource to present to you “The Digital Bank of Africa” better known as DafriBank Limited. The latest division of DafriGroup PLC is Africa’s pioneer digital banking solution to assist cyber entrepreneurs with digital monetary transactions across the continent.
The Digital Bank of Africa (DafriBank) which expected to begin operation in late November 2020 is set to provide a uniquely African solution to African problems. The online bank was created to offer ordinary Africans the opportunity to carry out financial transactions directly on their cell phones, tablets or over the internet.
By leapfrogging to mobile technology, DafriBank cuts out red-tape and makes the banking process super-fast, seamless, and secure. This can be a force multiplier for the continent’s entrepreneurs. “Banking with DafriBank will allow entrepreneurs to concentrate on their business activities — without having to spend hours visiting brick and mortar financial institutions and waiting in line to carry out transactions” the company said in a statement.
Traditional banks are falling short in delivering the required level of service to their digitally based entrepreneur customers. They are bogged down by their conventional approach and legacy computer systems. DafriBank’s digital-only platform is a refreshing change. “We aims to provide Africa’s entrepreneurs and retail customers the opportunity to bank anytime and anywhere, no matter your location” its added
DafriBank idea was first conceptualized when ” multiple streams of income queen” Catherine Anajemba got together with her digital business associates to address the issue of international remittances faced by businesses and individuals. Their groundbreaking use of technology to solve this problem caught the attention of South African business magnate, Xolane Ndhlovu, who saw an opportunity to address an important issue while simultaneously investing in a high- potential venture. Funding for $5 million from DafriGroup PLC’s venture capital arm quickly followed. Ndhlovu is the force behind DafriGroup, a Public Liability Company with unrestricted interest license according to its certificate of incorporation seen by Daily Afrika. Prior to that, he was the chief executive officer of UMEH Ltd, a R500 million conglomerate with interests in hospitality, real estate, publishing, and technology.
DafriBank addresses the banking needs of Africa’s growing digital entrepreneurial class — a niche that has been largely ignored by the traditional banks. With its unwavering focus on technology, DafriBank is poised to become the first choice for small businesses and individuals looking for a trustworthy and efficient banking solution. The head of strategic planning explains, “Our leading edge in IT will keep us well- positioned to sustain our offering of exceptional digital banking services.”
The schaduled launch of DafriBank didn’t come without a little twist in line with the current trend in finance sphere. DafriBank expressed its knee interest in digital currencies when they unveiled their own Security Token DBA The world first digital currency to fully backed by a Bank. The 100 million total supply token which several crypto analysts has dubbed the next crypto blockbuster coin has attracted some 5000 serious investors lining up to get hand on the impending bank- backed Security token. The firm is expected to begin its STO pre – sale in August at a release price of $0.01c per coin and its projected to reach some south of $100 per coin over the next 5 years.
The Africa’s pioneer digital banking outlet has also unveiled its crypto exchange marketplace, DafriExchange during an online presentation. DafriExchange is an affordable online marketplace to buy and sell cryptocurrencies.