FNB Connect gets new CEO
FNB has announced that Sashin Sookroo has been appointed the new CEO of the bank’s mobile virtual network operator (MVNO) — FNB Connect.
Sookroo has been working for FNB for 14 years and started in the CEO position on 1 July 2023.
“He has been instrumental in driving innovation across different business areas, including the EFT Product House and Core Banking,” FNB said.
FNB Personal segment CEO Lytania Johnson said Sookroo’s comprehensive experience in financial services, technology, and payments, and his deep understanding of the FNB culture, positioned him to lead FNB Connect.
“His appointment is in line with our efforts to enable better access to telecommunications and ICT services through our trusted digital platform,” Johnson said.
Sookroo’s appointment comes a month and a half after Bradwin Roper left FNB Connect to head up MTN South Africa’s financial services division.
Roper had been in the position for just over three years.
Using MTN’s network
FNB Connect is South Africa’s biggest MVNO, having amassed over 878,000 subscribers, according to its 2022 results.
The operator launched on and has been using Cell C’s MVNO platform for several years but recently announced a partnership with MTN, the country’s second biggest mobile operator, to also use its infrastructure.
The agreement will allow FNB customers to use MTN’s towers in addition to the Cell C “virtual radio access network”, which is also built and managed by MTN.
FNB CEO Jacques Celliers said the MTN collaboration was consistent with FNB Connect’s efforts to leverage reliable network infrastructure and accelerate the delivery of cost-effective data and voice plans, and other ICT services.
As part of the bank’s eBucks Rewards programme, the MVNO also rewarded FNB and RMB Private Bank customers with over R300 million worth of free data and voice minutes in the first half of the 2023 financial year.
The FNB Connect division also has a store that sells smart devices like smartphones, tablets, and laptops.
In the first half of 2023, it sold R400 million’s worth of smart devices via the FNB App.
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