One of  South Africa's largest commercial banks, FNB has launched a complete, end-to-end digital account opening process for stokvels at an event held outside Kwa Zulu Natal's city of Durban in Umlazi, at  Mega City Mall.

 Stokvels are communal savings schemes in black communities.

This initiative will enable stokvels to be formed and managed entirely from a smartphone, making formal banking accessible from anywhere in South Africa.

Thuto Ngobeni compiled this report...