This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Prepaid Financial Services Launch MADI Express Prepaid MasterCard Card In Botswana

In the near future users will also be able to make bill payments for utilities such as water, electricity, gas, cable TV, mobile phones and broadband, by using their MADI Express Prepaid MasterCard card and further enhancements are already underway to allow users to purchase their card and load it with cash at various stores and retail outlets across Botswana.

Favor Kelapile Marebole, Group Managing Director at Prepaid Debit Card Services, was delighted with the launch and commented: "The launch of the MADI Express Prepaid MasterCard card in Botswana, in partnership with reputable global payments service providers like PFS and MasterCard, is a key milestone in our efforts to address challenges faced by the country's under-banked and unbanked communities."

"These challenges are mostly felt by the poor and middle income communities in rural areas - almost 36% of the total Botswana population.  We are excited about the positive implications that this payment solution will have for these citizens, a sentiment echoed by all stakeholders including public sector organisations, NGOs and the private sector," Marebole noted.

Peter Mukunga, Acting Managing Director at Kingdom Bank Africa Limited commented "We are delighted to partner with Prepaid Financial Services and MasterCard in bringing the MADI Express Prepaid Card product to Botswana. It is clearly evident that with the increasing convergence of telecommunications technology and financial services, banking is no longer a preserve of the affluent. It has always been our objective to demystify banking, promote financial deepening and improving access to financial services across Sub-Saharan Africa and we believe the issuing of prepaid cards is one such cheap and convenient way of achieving this".

Businesses can also stand to benefit from the introduction of the prepaid card, as the payment solution can be used for making payments to full time employees or to non-salaried workers, who hold informal employment and do not have banking accounts. Prepaid cards can also serve as an excellent replacement for existing corporate Travel Card programmes and entertainment expense schemes, which are cumbersome to monitor and are particularly vulnerable to fraud.  Government will also be able to securely distribute funds to social grant beneficiaries.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs