A new cross-border payments platform, Globba, launched in partnership with Mastercard, aims to make sending money across Africa faster and cheaper for South Africans and foreign nationals banked with First National Bank (FNB).
This platform offers South Africans and foreign nationals banked with FNB a faster, cheaper way to send money across Africa.
How FNB’s Globba can benefit Zimbabweans
According to Reuters, the service, which officially launched on 11 November, targets countries including Zimbabwe, Malawi, Mozambique, and Ghana, with plans to expand across the continent.
FNB notes that Globba is designed for personal remittances rather than business transactions.
Individuals can now send money securely to family and friends, with fees reportedly starting as low as R30.
The platform also promises near-instant transfers, addressing long-standing delays associated with traditional banking and informal courier services.
A boost for Zimbabwean families
For Zimbabweans living in South Africa, this could be a game-changer.
Many rely on remittances to support relatives back home, covering essentials such as school fees, groceries, and utility bills.
Historically, these payments often went through informal channels or expensive banking methods, sometimes exposing senders and recipients to risk.
Globba’s formal banking structure ensures transactions are traceable, regulated, and safer.
Globba’s Limitations for businesses
However, FNB noted that the service cannot be used by businesses or corporate entities.
This means that cross-border trade payments will still rely on other banking channels or informal methods.
Despite this limitation, the platform could reduce the dependence on cash couriers, known locally as “Malayisha,” who transport money and goods across the South Africa-Zimbabwe border.
How does Globba work?
Globba lets FNB customers send money to over 140 countries with delivery that’s almost instantaneous.
Recipients can access the funds through bank accounts, mobile wallets, or cash-pickup points, reflecting Africa’s need for both digital and physical channels.
Customers complete every transaction directly in the FNB app or through online banking, eliminating the hassle of using external platforms or intermediaries.
FNB provides trusted local infrastructure and reach, while Mastercard provides the global network and technology that keep cross-border payments running smoothly.
Together, the partners are working to shift remittances from informal to formal channels, making the process more seamless, affordable, and secure.
