FNB Connect CEO shows how bank-telco convergence drives financial inclusion through everyday connectivity

Sashin Sookroo, who dreamed of being an engineer as a boy in Empangeni, South Africa, now leads FNB Connect—the bank's connectivity business that recorded R28.6 billion ($1.8 billion) in customer value and sales (up 18%) and R3 billion ($184.6 million) in gross revenue (up 14%) in the latest financial year. The mobile virtual network operator service saw data consumption surge to 50 petabytes (up 85% year-on-year) serving approximately three million transacting customers and 1.02 million active SIMs.

Sookroo argues that banking and connectivity are no longer separate services but essential parts of daily life where the smartphone functions as 'a branch or wallet or a marketplace in your pocket.' He explains that while a bank account stores money, a connected device enables access to information, education, work communication and markets—making digital inclusion critical for full life participation, especially in contexts where technology access varies sharply across communities.

The FNB Connect model leverages the bank's trusted customer relationship rather than competing on physical infrastructure, focusing on delivering tangible value through pricing rewards and convenience within the broader FNB ecosystem. This approach has driven 18.4% growth in device sales volumes and 7.6% increase in average revenue per user as customers find more reasons to use connected services for work, learning and opportunity-seeking beyond basic banking.

For Nigerian observers watching similar bank-telco collaborations emerge locally, what specific elements of this trust-driven convergence model could be adapted to expand financial inclusion through connectivity solutions in Nigeria's diverse markets?

SOURCE: https://techcabal.com/2026/09/18/sashin-sookroo-fnb-connect-vision/