FXA Gaining Momentum in 2007
FX Africa’s Managing Director Darren Jenkins-Ferrett is predicting a remarkable 60% growth in turnover this year.
With aggressive expansion plans for retail branches and having recently signed a deal to provide Nedbank with foreign currency among other exciting developments, he is very upbeat about the company’s short and long-term future.
“We’re hoping to open more branches in strategic places, mainly around Gauteng. A tender for the bureau de change at the O.R Tambo International Airport is out and we’re obviously going to try and get that,” says Jenkins-Ferrett.
In 2007, the company is also aiming to expand its African operations well beyond its six branches in Zambia and one in Botswana, into at least one other country in sub-Saharan Africa. “We’re currently applying for licences to operate in this region,” he says.
In terms of new products FX Africa will be launching a pre-paid Rand card for people who are visiting South Africa and would prefer to not carry cash. This will undoubtedly be helpful against theft.
FX Africa has always prided itself on its relationship with its customers and with expansion the company might be hard-pressed to maintain its personal touch. But Jenkins-Ferrett has already set in motion plans to maintain the excellent service levels and personal attention it’s become renowned for.
“We are currently working on ways to standardise customer service through scripting and training so that each person knows how to deal with clients,” Jenkins-Ferrett explains. He adds that each branch will be incentivised for profit and service, and that “mystery shoppers” will keep staff on their toes.
Jenkins-Ferrett says that FX Africa is still enjoying “momentum” which means that the company is in a position to grow and gain clientele while some of its competitors have reached a plateau.
“We are still a small-enough company that our clients can call and speak to the managing director. In fact people can call me on my cellphone, 083 325 8527.”