EBank records 40 000 personal accounts

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EBank celebrated its first year anniversary on November 1, after showing impressive growth in its first year, having recorded a client base of 40 000 personal accounts.

A fundamental trait of EBank’s rising success was its introduction of retail outlets, enabling clients to choose where they bank whilst doing their shopping.

“Our aim was to increase the ease at which people can bank and move money around,” recalled Mike Mukete, EBank’s chief executive officer. The retail partner network offered a unique banking experience by turning every EBank-enabled till point into a deposit, withdrawal or payment point.

This model allows for EBank clients to safely withdraw or deposit money and make payments without the inconvenience of long queues or separate visits to a bank.

EBank also launched a set of personal banking solutions, namely EBank Easy, the only self-activated bank account in Namibia, and EBank Smart, the most affordable, fully functional transaction account in the market.

Since launch, EBank has achieved successful implementation of online banking, smart-phone access and USSD access to accounts. At the recent launch of chip-and-pin Master Card debit cards the bank introduced client service centres at key locations and its retail partner network grew to 109 outlets countrywide. EBank has also become an authorised dealer in foreign exchange.

With the continued success of EBank’s personal banking solutions, the focus is now also on developing and rolling out a business banking solution, treasury and foreign exchange offerings, as well as a lending capability. “The key to our model is accessible banking for all,” said Mukete.

“This past year, we have shown that we will innovate whenever there is a need to improve or expand our service and channel offerings to ensure that everyone in Namibia has access to and full use of a full range of banking services. Namibians have shown great enthusiasm for EBank and we look forward to another exciting year,” Mukete said.