Stanbic Bank Botswana has announced that it is launching the Shyft forex and trading app to its Botswana customer-base. Shyft makes it possible for users to invest in over 300 leading shares and ETF options right from their phones.
The app allows customers to view and compare live exchange rates, allowing them to buy the currency of their choice on the app (currently USD, GBP, EUR and AUD) when it’s at a favorable rate. Secondly, because Shyft offers forex at the cheapest rate, customers enjoy savings and can get more value for their Pulas. Thirdly, Shyft allows customers to store forex on the app indefinitely, so they are never under pressure to utilise the funds.
Arno von Helden, Founder and Head of Shyft, notes that the app allows customers “to protect [themselves] against currency fluctuations”.
Stanbic adds that whether they are in Gaborone, Kasane, Otse, or Serowe , customers can secure their stake in the likes of Chinese multinational tech company Alibaba (HGK), leading plant-based meat substitutes maker Beyond Meat (BYND), tech giant Microsoft (MSFT), electric vehicle maker Tesla (TSLA) and/or a range of top-performing ETFs via Shyft.
First launched in South Africa in 2017, Shyft has seen significant uptake over the years – acquiring over 100 000 users to date and enjoying a very strong reception as well as several accolades. In 2022, Shyft won three New Generation Awards – gold for Best Customer Experience (CX) of the Year; silver for Most Innovative App Developed by a Corporate; and silver for Best Use of Technical Innovation. At the Finnovex Southern Africa Awards 2022, the app won top honours in the Excellence in Fintech – Payments category. The app was recognised as the MTN Business App of the Year overall winner and top app in the financial services category in 2017 and in 2021.
“The technology is not only revolutionary, but relevant. Taking the hassle out of forex transactions is what so many have been asking for, and now it is here..We’re delighted that Shyft is now available in Botswana. We look forward to our clients taking full advantage of the possibilities that come with access to forex. Be it for shopping and travelling internationally, or investing abroad, we are confident that using Shyft will be beneficial," said Lebea Sephuma, Head of Global Markets, Stanbic Bank Botswana.