DANBA Group acquires KMC Micro-Finance Bank, sets to launch Africa’s biggest digital bank.
By Umar Usman
AREWA AGENDA – Nigeria-based DANBA Group has acquired 100% of KMC Micro-Finance Bank, hinted that it is only eight weeks away from launching what it called “Africa’s biggest and most effective digital banking operation”.
DANBA’s Head of ICT, the Middlesex UK University-trained ICT expert, Saadina Dantata Jnr, said the new digital bank will come up with unprecedented incentives for its customers, adding that Nigerians will soon experience the fastest, safest, most user-friendly and the easiest to access digital banking that will make everyone in Africa proud.
Saadina further said DANBA Group, given its grounding in the financial ecosystem, is being forward-looking in its understanding that FinTech can change the face of financial inclusion and access in Africa.
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“It is an ambitious project, deploying cutting-edge technology to enhance financial inclusion which is essential for reducing poverty and inequality in Africa. We are targeting a platform that will bring banking to the fingertips of everyone in Africa”.
He explained that since the explosion of FinTech in the world in the aftermath of the COVID-19 pandemic, Nigeria has been identified as Africa’s untapped leading Fintech frontier. In 2021, Nigeria had 122.3 million active bank customers. According to February 2022 data, only 39% of Nigerians use the formal banking system.
DANBA and Associates Nigeria Limited is an indigenous firm that was established in 1995, which initially started as a Telecom, Chemical, and ICT Hardware Trading company.
With it’s planned debut in the financial sector and the ambition to launch Africa’s biggest digital bank, DANBA is not only thinking big but determined to fulfil its founding vision.
