FNB Connect targets price-conscious market with tech under R5,000
FNB Connect is expanding its mobile service offerings by selling over 160 technology products priced under R5,000 to attract value-conscious South African consumers. The bank aims to increase data usage and network engagement by making affordable smartphones and connected devices more accessible.
Why it matters
This strategy demonstrates how financial institutions are diversifying into telecommunications to capture market share in emerging economies.
FNB says it now offers more than 160 technology products priced below R5,000 as the bank seeks to entice value-conscious South African consumers to use its mobile service.
Mobile operators are battling to increase network usage because the price of smart devices is out of reach for many South Africans, and banks are stepping up to fill the gap .
FNB’s slate of smartphones and devices ranges from R779 to R4,799. The increased accessibility is good news for consumers, while mobile providers will benefit from the volume of data services that flow through their networks, ultimately adding to their profits.
As operators build their portfolios of digital messaging, streaming, financial services and gaming, consumers with more devices give these platforms more room to grow.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in