Gaborone: BancABC Botswana today published its second set of interim financial results since listing on the Botswana Stock Exchange.
The Bank reported a profit after tax of P55.7 million for the period ended 30 June 2020, up 8% from the previous year. One of BancABC’s strategic objectives at listing was to prepare for the future by investing in systems and overall operational upgrades that will enhance the customer experience. That decision has begun to bear fruit, with the Bank accelerating its transformation programme and achieving key value milestones.
Managing Director Kgotso Bannalotlhe commented, “The first half of the year was impacted by the ongoing subdued macroeconomic environment that was further compounded by the impact of COVID-19. However, the building blocks put in place since listing and strong momentum established at the end of 2019, which continued into the first quarter of 2020 helped mitigate downside pressures experienced in the second quarter. I am pleased that our business has demonstrated resilience, resulting in an acceptable first-half performance and improvement compared to the previous year.”
As a responsible corporate citizen, BancABC extended a helping hand to support both its retail and commercial customers who have been financially impacted by the pandemic. Additionally, in April the Bank contributed P100, 000 to the COVID-19 Relief Fund to assist in the fight against the pandemic and the upliftment of the people of Botswana. “We understand this is a challenging period for our customers and will continue to support them through various initiatives,” said Bannalotlhe.
Total income grew by 9% on the back of a stronger net interest income and a 4% growth in the Bank’s loan book. During the half-year period, BancABC saw encouraging growth in trading revenue from P2 million in the first half of 2019 to nearly P9 million as a result of the improved team capacity in the global markets business.
Interest expenses were successfully reduced by 15% through efficient technology utilisation and the determined effort to reduce the pricing of term deposits, which was supported by the 0.5% rate cut in April 2020. Although the Bank’s key income lines reflect strong performance, during the second quarter it began to see a reduction in activity within its branch network as well as the corporate and SME segment due to the lockdowns imposed as containment measures to curb the spread of COVID-19. As a result, the weaker activity damped BancABC’s growth prospects for the 2020 financial year.
Currently, BancABC retains a strong capital position and closed the half-year with a healthy capital adequacy ratio of 21%. The Bank also reported strong uptake on its recently launched digital channels, a positive outcome from the second quarter. Ratang Icho Molebatsi, Finance Director said, “The last six months have been a challenging period.
The Bank continues to be profitable. However, we expect the curtailed economic activity and disrupted markets to have an impact on full-year financial performance, which may slow down the Bank’s path to deliver on its timelines for attaining returns on investments made thus far. Due to the current market conditions, we continue to closely monitor our operating expenses and costs within all business segments in order to have the appropriate liquidity for future investments.”
This year, BancABC celebrates its 10th anniversary. A decade ago, BancABC Botswana opened its first branch in Gaborone, The Square Branch. Since then, the Bank has expanded its footprint, offering over 60,000 people in Botswana accessible, relevant banking solutions.
The Bank rolled out an infrastructure overhaul, introduced the Commercial Banking online platform, BancOnline and recently launched the SaruMoney banking app in order to better serve its customer base as part of a P100m investment made in the last two years to improve its value proposition.
Over the years, BancABC has experienced both celebratory and challenging moments, but what remains intact is that BancABC continues to offer simple, accessible, customer-centric financial solutions while building profitable, lasting customer relationships.
“There is no doubt that the next six months will be challenging given the economic backdrop and further impact from COVID-19. However, we remain focused on all elements of our strategy, whilst ensuring that all our efforts as a business are aligned to deliver value for shareholders and other stakeholders in the medium-term,” concluded Bannalotlhe.
About BancABC BancABC Botswana is a part of the Atlas Mara Group. Our vision is to be the trusted local bank in Botswana, offering world-class solutions and building profitable, lifelong customer relationships through the provision of a wide range of innovative financial products and services to benefit all stakeholders.
BancABC Botswana was listed on the Botswana Stock Exchange Limited (BSE) in December 2018. ABC Holdings Limited (www.bancabc.com), wholly-owned by Atlas Mara, operates BancABC in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe.
About Atlas Mara
Atlas Mara (https://www.atlasmara.com) was listed on the main market of the London Stock Exchange in December 2013. Atlas Mara’s strategy is to create Sub-Saharan Africa’s premier financial services institution through a combination of its experience, expertise and access to capital, liquidity and funding.
Its goals are to combine the best of global institutional knowledge with extensive local insights and to support economic growth and financial inclusion in the countries in which it operates.
The new sustainability initiatives aim to contribute towards greater best practice efforts and supporting the local community
Introduction of the New Executive Chef who aligns to the sustainable food and dining experience
Gaborone, Botswana – March 29th, 2022 – Hilton Garden Inn Gaborone has officially launched its new and innovative sustainability initiatives as part of Travel with Purpose, Hilton’s Environment, Social and Governance strategy meant to redefine and advance sustainable travel globally.
The initiatives extend into the dining and culinary experience, with new Executive Chef, Shaneil Dinna, championing a new approach to food at the hotel. Hilton Garden Inn Gaborone has made deliberate efforts to incorporate local “touches” thus presenting local signature dishes on the new menu.
Beyond the new sustainable culinary approach, Hilton Garden Inn Gaborone will be implementing other initiatives such as:
Meet with Purpose – Meeting Impact Calculator – Hilton is launching Meeting Impact Calculators which uses data gathered from our Light Stay platforms in partnership with South Pole, one of the leading developers of emissions reduction projects worldwide. This is in effort to track and measure our carbon footprint, with the end goal of reducing emissions. The report produced from the calculator details the predicted carbon, energy, water, and waste generated by meetings and events.
Hilton Africa Big 5 – Through our drive to prioritise sustainable travel and tourism in Africa, Hilton has launched a campaign to focus on five key areas, namely: Wildlife Protection, Local Sourcing, Youth Opportunity, Water Stewardship and Anti-Human Trafficking. This is in line with the buy local #PushaBW campaign, which also prioritises local sourcing and youth empowerment. This initiative will be highlighted at the upcoming #PushaBW Brunch in May.
Ms. Thabani Ndlovu, General Manager at the hotel, said, “At Hilton Garden Inn Gaborone, we pride ourselves in being an establishment that exemplifies sustainable tourism, development, and leadership. The hotel is moving towards aligning itself with the Botswana national eco-tourism strategy.
We are purpose-driven and constantly strive to represent the brand’s commitment to building a sustainable environment, all the while contributing towards protecting the planet for generations to come. We have also welcomed a new team member, Executive Chef Shaneil Dinna, whose menu incorporates traditional and home-grown ingredients. He will no doubt also contribute towards recognising and preserving cultural heritage.”
Chef Shaneil brings more than 18 years of experience in an array of contrasting and complex environments within the hotelier industry. His previous roles include working at The David Livingstone Safari Lodge and Spa (in Zambia) and The Hyatt Regency in Johannesburg. Shaneil’s focus will include working to define the menu for more local food appreciation, as well as incorporating more local brands and produce into his kitchen.
With the world becoming even more aware and concerned with the impact travelling has on the environment, the hospitality industry is working towards creating a lasting positive impact on the planet. The continuation of environmental sustainability is essential for businesses such as hotels to grow and evolve – an outlook synonymous with the Hilton Garden Inn Gaborone brand.
Whether its wishes or reality that the COVID – 19 pandemic is reaching its sell – by date, one thing that we can’t deny is that it has brought in lot of changes both good and bad, likewise it has given us a different perspectives on a lot of things, and one such is the importance of a truck driver.
Looking back at those initial days when corona virus was first declared a pandemic in March 2020, not many of us knew what that meant but we were all in the lookout that Covid – 19 does not enter the countries we lived in. Governments warned and closed borders to avoid the transmission of the disease from one country to another, and only truck drivers as conveyers of essential goods and a few others were allowed to cross borders.
Truck drivers more especially as their job was to move essential goods across borders The food, the medicines, the oxygen and every single important item that was essential to keep life going, that had to be imported was brought in by a truck driver.
However, stigma developed against truck drivers as they would cross into countries that were regarded as epicentres. People assumed that the truck driver were more likely to be positive of Covid – 19. One truck driver stated how they were not even allowed enter supermarkets to buy food as communities had already diagnosed them as carriers of the corona virus.
Not only have they survived a stigma from communities in every country they entered, a lot of changes especially at border gates affected them more. Borders experienced long queues as a result of the COVID – 19 protocols that were introduced such as screening of drivers, recording personal details for contact tracing, regular testing of truck drivers as well as long waiting times for PCR test results.
There was a point during the pandemic when PCR tests had different validity periods, in South Africa, the PCR test had a validity of 30 days, in Namibia, seven days, and in Botswana only 72 hours. This had a real effect on the ground for truck drivers who were not able to do multiple entries into countries with one test, or who were unable to turn their truck around fast enough to still have the same test valid when exiting a certain jurisdiction. Furthermore, Truck drivers were faced with other challenges such as increased risks of contracting Corona virus, loss of jobs and some died from Covid19.
It was against this background that Trans Kalahari Corridor Secretariat (TKCS) together with the Walvis Bay Corridor Group (WBCG) came up with the initiative to thank truck drivers along the Trans Kalahari Corridor and on the Namibian Corridors. The Thank A Trucker campaign was sponsored by National Road Safety Council.
This campaign with which the two Corridors Management Institution showed appreciation to truck drivers by giving them a bag of usable goodies including food has grown in status since its launch in Katima Mulilo in July last year. To date the campaign has given out over 900 hampers to truck drivers in Namibia and South Africa (on the Trans Kalahari Corridor) the next campaign will be held in Botswana from the 8th to the 12th March. Windhoek is expected to host the last of the campaign in April this year.
Apart from the Thank A Trucker Campaign, The Trans Kalahari Corridor Secretariat had to put in a lot of work to ease the work of truck drivers thus facilitating trade between TKC member states. Lobbying with different member states to harmonise the Covid – 19 protocols and ease related restrictions.
This work has bared fruit as we continue to see countries relaxing some protocols with Botswana recently allowing travellers who are fully vaccinated to enter the country without a PCR test result. This will greatly contribute to agility and seamless movement of trade especially that Botswana is a transit country.
One of the projects that TKCS is a part of and was born to reduce covid19 impact on trade facilitation is the establishment and implementation of Corridor Trip Monitoring System (CTMS) in the Trans Kalahari Borders. The CTMS seeks to facilitate the continuation of cross-border trade in goods and services during the ongoing crisis occasioned by the coronavirus.
The system will further facilitate and ensure that cross-border transport and transit is performed by healthy drivers who can be constantly monitored and tracked to reduce the spread of Covid-19. CTMS will also seek to reduce extended travel and transit times during the pandemic.
The Trans Kalahari Corridor Secretariat is a tripartite trans boundary corridor management institution based in Windhoek. It was established with a political and economic vision to pursue or contribute towards deeper regional integration programmes of SADC, SACU and AUDA -NEPAD
Cell city in partnership with Orange Botswana and Tecno this week conducted the draw of their Win a Toyota Hilux 4×4 double cab competition in which Tebogo Mooka was announced as the ultimate winner.
The competition ran from the 1st of October 2021 and ended on 31st January 2022 across Cell City and Orange Botswana stores country wide.
When giving the competition background, Bokani Kgwarae who is the Sales Manager at Cell City Botswana said customers where to purchase Tecno Spark 8 for P1995.00 or the Tecno T101 which was valued at P175.00 so that they could stand a chance to win the Toyota Hilux 4×4 Double Cab.
“They needed to complete the competition entry form and attach the invoice and place them into the competition form,” she said.
Kgwarae further revealed that they collected all the competition boxes across the country both from Orange stores and Cell City stores and later conducted the draw for the three finalists in the presence of Auditors from Mazars Botswana.
“Our finalists were drawn from the pool of all competition boxes from Cell City and Orange stores,” she noted.
Meanwhile, Mooka who hails from Moshupa was the biggest winner of the competition as she walked away with a brand new Toyota Hilux 4×4 double cab. The second prize went to Letlhogonolo Onneng from Bobonong who had purchased a small tecno phone at the value of P175 securing a P 30 000 cash prize; with Keikwatlhaye Kelopi from Lecheng Village getting third prize pocketing P20 000.
Furthermore the store in partnership with Mascom conducted another draw also this week (Friday) in which they gave one lucky customer a new Toyota Land Cruiser 4.5 V8 Double Cab Promotion.
To qualify, customers were to purchase from Samsung stores, Mascom or Cell City shops and stand a chance to win a Toyota Land Cruiser 4.8 V8 Double Cab.
They needed to complete a form and attach it with the invoice for them stand a chance to become the lucky three finalists.
The winner of the new Toyota land cruiser 4.5 v8 Double Cab was Desire Mhlabi who purchased three Samsung phones; while the second prize winner was Marang Tlhokwa who secured P30,000; with Kaboyaone pocketing P20 000 for third place.