Be Mobile, a Canadian based neobank, has launched in South Africa and will target its low fee products at the country’s unbanked and underbanked via its app.
Like many companies operating on the African continent, Be Mobile is looking to boost financial inclusion via digital innovation.
Nearly 25% of the South African population is unbanked says the Oxford Business School.
CEO and co-founder of Be Mobile Dr Cédric Jeannot said: “We are incredibly excited to be launching our services in South Africa. This is an important market for us and we believe there is great potential for growth.”
Be Mobile currently operates in 30 African countries.