First National Bank Botswana (FNBB) has reported a 43% growth in CashPlus transaction volumes for the year ended 30 June 2024.
CashPlus agents grew from 1,099 in the prior year to 1,481 this year.
"There was also a significant growth with the CashPlus service offering, which remains the bank’s flagship channel in pursuit of financial inclusion," the bank said in its annual financial statements.
The growing number of CashPlus has contributed to FNBB's non-interest revenue by 7%. Other contributors to non-interest revenue were service fees (6% up), card commissions (21% up), forex (7%) and custody (13%).
FNBB launched Cashplus in Botswana in September 2019. Using agents, the service allows FNBB and non-FNBB customers to perform transactional financial services such as cash deposits, withdrawals, prepaid electricity purchases and airtime purchases even in far flung places with no physical branches.