FNB discloses non-fee bank account for small businesses and learning programme

A leading business bank in South Africa First National Bank recently has finally launched a new digital app-based entrepreneurship learning programme and a non-fee bank account to eradicate the barriers faced by small and medium-sized businesses in South Africa.

A free interactive e-learning platform developed inside the FNB banking app, Fundaba, comprises multimedia content such as videos, podcasts, quizzes, templates and tools for all FNB customers to learn about entrepreneurship and running a business.

According to the bank, it said, so many extensive researches had been   conducted and worked with hundreds of local business owners and mentors to provide users with critical knowledge and practical help as they navigate the journey from incubating a business idea, to starting, running and growing one in South Africa.

The benefits were mentioned that, SMEs can also actively share and provide feedback on various educational chapters to constantly increase the effectiveness and relevance of the content.

Another opportunity the bank presented was, as from November 1, the First Business Zero business bank account is designed specifically for sole proprietor businesses with an annual turnover up to R5 million.

It can be opened on the FNB app within a few minutes and key features include no monthly account fee, unlimited free point-of-sale card swipes and an inter-operable QR code for accepting payments.

Speaking more on the launch, the FNB Business CEO Mike Vacy-Lyle said, “It is the business owners in this country who inspire us daily to innovate and find meaningful solutions that are truly impacting on the day-to-day running of their businesses and bottom line.”

The programme consists of 12 modules across the four lifecycle stages of a business and follows a South African entrepreneur’s journey as he builds his first business. All audio and video content are available in five local languages, namely isiZulu, isiXhosa, seSotho, English and Afrikaans.

Head of the SME customer segment at FNB Jesse Weinberg, said, “As a leading business bank in South Africa, a core part of our strategy is to help develop SMEs by supporting entrepreneurs through their journey, and a key part of this journey is entrepreneurship knowledge and skills which we believe can help on a large-scale using our digital infrastructure.”

Source: African News Agency (ANA)