CGAP and WIZZIT partner on mobile banking for poor people in rural South Africa

Jul 07, 2009 | CGAP
Johannesburg, South Africa – CGAP is supporting WIZZIT Bank to deliver banking services to poor people in South Africa’s small towns and rural areas. WIZZIT is a division of the South African Bank of Athens Limited. The project’s three key components use point-of-sale devices in combination with WIZZIT’s mobile phone banking platform: • A mobile banking payment service for the major wholesalers serving more than 500 microentrepreneurs (spaza shops) in the township of Motherwell, where three in five people are unbanked. • A pilot program for easy account opening and preferred pricing at Dunns outlets—a leading South African clothing retailer. If successful, this pilot program will expand to 289 stores throughout the country. To encourage sign-ups and use, customers will be given incentives to make purchases with their Maestro debit card rather than cash. • Easy account opening using a direct sales model and the South African Post Office for distribution. Read the full press release