Delivering service excellence in a digital Africa

Efma feature

09 August 2019

A brand-new Efma ‘Voice of the Members’ publication is coming your way this August. Five leading African banks share their experience in converting customers to digital channels, and reveal why delivering service excellence requires cultural change.


Whereas growth in the global banking industry has recently slowed, Africa is a fast-growing market with more room to grow, since banking penetration stands at just 38% of GDP, which is just half the global average for emerging markets, according to McKinsey in their 2018 article ‘African retail banking’s next growth frontier’. Moreover, Africa is the second most profitable region across the global banking industry, with a return on equity of its banks of 14.9%, second only to Latin America.

At the same time, the overall subscriber mobile penetration rate is forecasted to reach 52% by 2025 in Sub-Saharan Africa, up from just 25% at the start of this decade, according to GSMA’s 2018 report ‘The Mobile Economy Sub-Saharan Africa’. It’s clear that banks across the African continent should – and are beginning to – tap into the opportunity to ‘go digital’ and expand across channels.

Expert insights from an Efma Senior Advisor

In this Voice of the Members, John Berry, Efma Senior Advisor and Internationally Recognized Transformational Leader, provides an insightful introduction based on his extensive experience working with a number of banks in Nigeria and Kenya.

According to Berry, the digital evolution occurring in Africa means more than updating branches and converting customers to digital channels, instead involving a broader challenge of cultural change and workforce transformation.

"Africa has huge opportunities for successful growth for retail banks that have the desire to adapt, learn and change to deliver excellence in customer experience. Technology is the enabler. While it is the management’s willingness to embrace change that starts the journey, the way transformation is executed itself will be the difference between success and failure,” says Berry.

Hear from five leading African banks

Download the publication now for full access to interviews with senior executives from Bank of Africa Group, Crédit Agricole du Maroc, Standard Bank, Standard Chartered Bank, and Wema Bank.

In the pages of this Voice of Members, we hear from these local industry leaders about how they’re embracing the latest technology to offer exciting new customer experiences and product offerings in a more cost-effective manner and tackle financial inclusion head on.

For example, Amine Bouabid, CEO of Bank of Africa group, speaks about the different stages of the digital journey in Western and Eastern Africa; Jaydeep Gupta, Regional Head of Retail Banking at Standard Chartered Bank for Africa and the Middle East, talks about the core workforce transformation that is required to balance digital channels with a human touch. Discover the rest of the interviews by clicking on the link below.

To learn more about digital banking in Africa, download the full publication.

Keywords : Bank Products & Services , Transformation , Digital/Mobile channels

Geography : Africa