There are more than a few new startups in South Africa that are shaking up the status quo. Two of these, the data-only Rain network and Bank Zero both appeared at a point where other players in the industry were struggling to innovate. Another thing both have in common is that former CEO of FNB, Michael Jordaan is at the helm of them.
Rain is established as an ‘unlimited network’ and has some of the country’s cheapest data prices at just R50 per GB. It is also the first network in South Africa, even among the first in the world, to roll out 5G to the public. It currently has uncapped 5G internet available for R1,000 a month — in viable areas.
Bank Zero, on the other hand, aims to make banking accessible and affordable to the masses. Every adult in the world will soon have a smartphone, which will allow them access to a variety of apps. Bank Zero is currently in beta testing, and will launch in the first quarter of 2020.