FNB Connect's success

[Daniel Puchert]

FNB's R18.6-billion secret weapon

FNB Connect generated R18.6 billion in total revenue last year, including airtime and data sales for its 958,000 active SIM cards, as well as Lotto and electricity sales revenue over the last financial year.

This was revealed in the annexures to FirstRand’s investor presentation last week, where the company detailed how its various operating divisions performed for the year to the end of June 2024.

 

[Dups!]

I honestly don't see the fascination/ attraction with FNB connect. This coming from their client.

 

[BBSA]

I honestly don't see the fascination/ attraction with FNB connect. This coming from their client.

Remember when we used to get free data and voice? Good times! But alas, it's no more.

 

[Dups!]

Remember when we used to get free data and voice? Good times! But alas, it's no more.

Exactly!

 

[Swa]

Nothing to really write home about. It's probably the peeps duped by ebucks going for it. In most cases with these MVNOs you get better deals by going directly with the network.

 

[Bernoldus Niemand]

Remember when we used to get free data and voice? Good times! But alas, it's no more.

Was useless because it runs on Cell C.

 

[Bernoldus Niemand]

Nothing to really write home about. It's probably the peeps duped by ebucks going for it. In most cases with these MVNOs you get better deals by going directly with the network.

Don’t need to have FNB connect to reach level 5. Also lol I’m not duped by eBucks it pays for my Netflix premium, Apple music, iCloud and Prime video monthly. It also paid for my Disney sub.

 

[BBSA]

Was useless because it runs on Cell C.

I never had problems making voices calls.

 

[duckgray]

Remember when we used to get free data and voice? Good times! But alas, it's no more.

Remember when we could get a device with the Connect contract?

 

[Tharaxis]

FNB unequivocally artificially boosts their MVNO numbers by forcing subcriptions alongside their device contracts. I've had a "subscription" for years that I have never used and never even seen the SIM card for, but it's inexorably linked to a device that's being paid off with seemingly no option to remove it.

There is no way that FNB has 950K-odd _active_ cellular users. I bet you the vast majority of those accounts are completely dormant.

Anyone valuating FNB on their "mobile user base" is doing so based on hot air.

 

[Dolby]

It's probably the peeps duped by ebucks going for it.

I’m guessing you don’t really understand eBucks?

Search around a bit more

 

[K3NS31]

Not sure if this is the best place to ask - I haven't been keeping track of the FNB Connect rules / packages. I've always just had data to burn (not that I use much); but lately I seem to have much less.
What's changed?

 

[Bernoldus Niemand]

Not sure if this is the best place to ask - I haven't been keeping track of the FNB Connect rules / packages. I've always just had data to burn (not that I use much); but lately I seem to have much less.
What's changed?

You don't get free data anymore.

 

[K3NS31]

You don't get free data anymore.

OH! not at all? That was the whole point of it.
Pity, it was nice to not have to port my number for a few years. Here we go again.

 

[Lupus]

Remember when we used to get free data and voice? Good times! But alas, it's no more.

Yeah the good old days

 

[Bernoldus Niemand]

OH! not at all? That was the whole point of it.
Pity, it was nice to not have to port my number for a few years. Here we go again.

Lol signal was so bad I couldn't even claim my free Kauai voucher with FNB connect in the mall.

 

[DanH]

That 18B includes all the prepaid, electricity, airtime, lotto, etc.

There can’t be much profit on that.

If you buy R2000 electricity, FNB’s making little more than transaction fees on it.

 

[SauRoNZA]

You’ve always gotten 40% back in eBucks which makes my monthly cellular spend less than R150.