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03/10/2022Banking Innovation

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TRADER DIRECT HAS BEEN ADOPTED BY RETAILERS ACROSS THE CONTINENT: • By mid-2022, over 12,000 small-scale traders were using Trader Direct across four countries (Lesotho, Zambia, Kenya and Côte d’Ivoire). Zimbabwe and Ghana are in the process of implementing the platform. • Trader Direct enabled over 11 million consumer-facing transactions year-to-date, worth over R56 million. These transactions included sales of airtime, electricity and pre-paid TV services. • The innovation enabled SBG to provide 28,454 stock advances to small-scale traders, most of whom do not have a formal bank account and would not have been able to access credit from a commercial bank in the absence of this solution. • The utilisation of the platform, measured as a function of daily activity, is approximately 60%, showing a high degree of product-market fit.

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