South African-Nigerian billionaire, Xolane Ndhlovu who recently launched the Digital Bank of Africa also known as DafriBank, has stated that Africa will recover from it’s worst economic recession.
The astute entrepreneur said “Africa is projected to recover in 2021 from its worst economic recession in half a century. Economic activity in Africa was constrained in 2020 by an unprecedented global pandemic caused by COVID–19. The economic impact of the COVID-19 shock in Sub-Saharan Africa is severe. However, countries in the region are continuing to weather the storm. With the world’s largest free trade area and a 1.2 billion-person market, the continent is creating an entirely new development path, harnessing the potential of its resources and people”.
Shedding light on the role DafriGroup is playing as regards contributing to Africa’s economic growth, he stated: “We are combining policy expertise, capital and data to advance pillars of opportunity for African emerging entrepreneurs. We are investing in people and places to tackle barriers to opportunity and create the conditions for lasting change”.
On how Dafribank stands out from others in the marketplace, the revered businessman said: “We differ from them with respect to our very mission! At Dafribank, our goal is to leverage the digitization of the financial sector to serve the digital entrepreneurs who have been largely ignored by the conventional banks. We also aim at reducing the costs of finance significantly through the use of more efficient technology, which would directly benefit our clients”.