Successful 99c bread offering lays the foundation for a strengthened FNB-Boxer partnership
Following the strong customer response to the 99c bread offering, FNB and Boxer today announced plans to deepen their strategic partnership, reaffirming a shared commitment to helping South Africans stretch their budgets further through meaningful rewards, greater financial inclusion, and practical everyday value.
South African consumers continue to face financial pressure, with the rising cost of everyday essentials placing increasing strain on household budgets. As one of South Africa’s largest providers of financial services to entry-level customers, FNB understands these challenges and is committed to delivering practical solutions that help customers stretch their money further through meaningful savings and everyday value.
Since launching the 99c bread offering with Boxer a month ago, over 220 000 vouchers have been issued, representing more than R2.2 million in value delivered to customers. To date, customers have realised savings of R73,650, with this figure expected to grow as vouchers remain valid for 31 days and further redemptions take place.
The initiative builds on the success of FNB’s broader affordable bread programme, first launched with Pick n Pay in 2024. Since then, more than 7.7 million bread vouchers have been issued, this is a total issued value of more than R77 million. Over the past 18 months redemption rates have tripled indicating that this value proposition is hitting the core needs of our customers. These results demonstrate how customer-focused partnerships can provide meaningful relief on everyday essentials while meeting customers where they live, shop and transact.
“At FNB, our purpose is to be a trusted partner to our customers by helping them achieve financial health and thrive,” says Lytania Johnson, CEO of FNB. “The reality is that many South Africans are making difficult decisions every month about how far their income must stretch. This partnership is rooted in listening to our customers, understanding the pressures they face and responding in ways that make a real difference in their everyday lives. We believe help is most meaningful when it is relevant, practical, and delivered at the point where customers need it most.”
The expanding of the partnership builds on the success of FNB’s ongoing strategy of combining banking, rewards and strategic partnerships to create an interconnected ecosystem that delivers value beyond traditional financial services. Through Boxer’s extensive footprint across South Africa, particularly in rural and semi-rural communities, the partnership extends the reach of customer benefits to areas where accessibility and affordability are often most critical.
Looking ahead, FNB and Boxer will continue to evolve, with a focus on enhanced rewards opportunities, greater accessibility and additional customer value initiatives over time. Both organisations view the collaboration as a long-term commitment to helping customers stretch their budgets further while strengthening the role that banking and retail partnerships can play in improving financial outcomes for South Africans.
Marek Masojada, CEO of Boxer, said the partnership reflects a shared commitment to helping customers manage the realities of daily life. “Our customers are looking for more than low prices alone. They want brands that understand their needs and provide genuine value. By bringing together Boxer’s community reach with FNB’s financial expertise, we are creating solutions that support customers in practical ways while making meaningful savings more accessible to households across the country.”
The partnership also supports a broader vision of financial inclusion. FNB and Boxer believe the future of inclusion extends beyond access to financial services to ensuring those services are useful, relevant and embedded in customers’ everyday life. Through strategic partnerships, rewards and targeted value propositions, customers are able to access benefits that help improve financial wellbeing while supporting essential household spending.
According to Christelle Pretorius, Chief Operating Officer at FNB Retail and Business segment, customer value remains at the centre of the partnership’s evolution. “Customers don’t think in terms of banking products. They think about how to put food on the table, get to work, support their families and manage their lives. The opportunity for organisations like FNB and Boxer is to build solutions around those everyday needs. By combining our respective strengths, we can create a more relevant ecosystem that delivers greater value and better outcomes for customers.”
“This is the beginning of a broader journey,” added Johnson. “As customer expectations evolve, we will continue to look for new ways to bring together trusted partnerships, innovation and practical support that help South Africans navigate their financial lives with confidence,” she concluded.
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