FNB Connect, the mobile network division of First National Bank (FNB) in South Africa, is making significant strides in the telecom industry. The company, which currently offers a basic fixed-wireless home internet service, is now looking to expand into fibre services. CEO Sashin Sookroo has revealed plans to collaborate with fibre infrastructure providers to deliver enhanced internet solutions to its customers.
The decision to shift towards fibre services comes in response to the growing demand for faster and more reliable internet connectivity. While FNB Connect’s fixed-wireless offerings have been well-received, the introduction of fibre could potentially offer broader coverage and improve the overall user experience.
In addition to the fibre expansion, FNB Connect has also introduced eSIM technology to its customers. This innovative feature allows users to connect to multiple networks without the need for a physical SIM card. Signing up for a plan or porting a number can now be done in less than three minutes, making the process quick and seamless. As an added bonus, new eSIM customers can enjoy 100GB of free data every month for six months.
Since its establishment in 2015, FNB Connect has experienced rapid growth, with 958,000 active SIMs by mid-2024, inching closer to the milestone of 1 million. Data usage on the network has also seen a significant increase, rising by 31% over the past year to a total of 12 million GB. To further expand its coverage, FNB Connect has strengthened its infrastructure by partnering with MTN in 2023, in addition to its existing collaboration with Cell C.
Beyond SIMs and data, FNB Connect has proven to be a lucrative business, generating R18.6 billion in revenue over the past year from airtime, data, Lotto, and electricity sales. With the growing adoption of eSIM technology and the upcoming fibre rollout, the company is well-positioned to further establish its presence in the telecom space.
Source: Techpoint Africa
