Nedbank has launched a solar-powered branch in Mncwasa, 60km outside Mthatha in the Eastern Cape, in what it said is South Africa’s first-to-market in the financial sector.
BusinessTech reports that the Nedbank branch aims to provide solutions for a community without banking facilities with the help of a SolarTurtle.
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The SolarTurtle – an ultra-secure solar solution in a box – is reportedly owned by members of the Mncwasa community.
It is reported that more than 69% of the Mncwasa population are economically inactive and depend on child support grants, with employment concentrated among teachers and small-scale entrepreneurs.
The solar branch is expected to allow community members to access financial services such as cashless banking and make use of digital-payment solutions through Masterpass – a digital-payment app from Nedbank.
The bank said the app enables faster and safer transactions, as it saves client payment information in a secure digital storage facility so that they can make online purchases.
The app can be downloaded from the Android, Apple, Windows and Blackberry app stores.