The Workplace Paradigm Shift in African Financial Services
As the economy deals with the effects of the disruptions caused by the Coronavirus pandemic, decisive strategies are required to gear up businesses for the future and make them agile enough to survive the challenging times.
Companies have suffered from retrenchments, revenue losses and cash flow declines which have forced them to revisit their strategies and prioritise business resilience more than ever. Both the local and global uncertain economic conditions will still persist long after the pandemic is over; however, it’s the businesses and sectors that respond swiftly and in a sustainable manner that will come out strong on the other side.
The Coronavirus pandemic has changed the way we do things. The little things we took for granted, such as chats in the common areas and the last-minute brainstorms to solve a crisis had to be limited and to some extent were completely absent. As the world continues to deal with the spread of the virus, stringent regulations will remain for the short-term, resulting in restricted movement even within the workplace. Given where we find ourselves at the moment, industries have been initiating conversations on what the future of the workplace will look like in the short to medium-term.
Changing the way we do business as a sector is, therefore, not only an opportunity but an inevitable necessity. Companies are recognising the increasing importance of workplace innovation as the shape and form of the prescribed workplace are starting to change. The Pandemic has demonstrated that work can occur anywhere, as long as employees are capacitated with the appropriate equipment, infrastructure and support. Business leaders who do not adapt to this change will find themselves out of the loop as workplace culture rapidly changes course. But this change will require a paradigm shift in terms of workplace dynamics while prioritising the wellbeing of employees.
As businesses figure out what the new workplace will be, it is vital for them to strive for a balance of seeking optimal outcomes from their employees as they work from home while remaining human in a technologically driven work environment. During the last few months, businesses discovered that technological advancements are not the enemy but rather the biggest barrier is the difficulty of integrating employees with these technologies. As such, human capital departments will find themselves evaluating how people adapt, behave and work within these newly formed ecosystems while ensuring meaningful, connected interactions still occur in the workplace.
In order to successfully and efficiently implement remote workplace strategies, all businesses from the smallest to the largest corporates would have to consider several challenges:
- As working remotely has not been a normal concept for many people, structural changes may have to take place. Setting up a home workstation and ensuring stable connection is now paramount.
- Organisations need to assess if all employees are able to create a conducive environment, especially where employees are living with extended family and may encounter various distractions.
- Leaders will need to adjust to a new way of managing employees that does not require monitoring. This is an opportunity for growth of employees as businesses foster more independence.
- With independence comes great responsibility. Employees will have to discipline themselves to avoid temptations inherent to working remotely, such as waking up and getting ready to ensure productivity rather than lounging in pyjamas all day.
- Communication is now more important than ever. Employees and managers need to adjust their expectations and communicate them efficiently. Providing clear, frequent communication and is also crucial to keep up morale.
- Clear Human Capital guidelines have to be put in place, adapting to remote working practices. It is important for employees to understand that working remotely is still working and should be treated as such.
Working during a global pandemic is a new experience for everyone, and it has added an extra layer of stress for most people. As industries continue to invest money, time and efforts to ensure the equipment and infrastructure are efficient, what remains critical is how they show up to for their people; therefore, one cannot overlook the need for empathy, especially during the tough times. While employees continue to play their part in ensuring the success of the business, management needs to extend themselves and create an environment where employees are able to communicate any challenges they may be facing and know that they will be afforded the necessary opportunity to deal with off-duty obligations, as well as get sufficient rest and recovery. Businesses need to be clear and deliberate in their approach to promoting employee well-being, as the health and well-being of their people are and will always be crucial to the success of the business.
The Coronavirus pandemic will have a lasting impact and shape how we see the workplace in the future, be it working remotely, flexible working hours or integrating more virtual engagements instead of face-face. Due to the current market condition, it’s imperative for business leaders to evaluate their organisation’s operations and strategic goals in order to determine how they adapt to the changes that have been brought about by the pandemic but also, how they continue to thrive and achieve long-term sustainability.
Human Capital Department, BancABC.
Corporate
BTC EMBARKS ON A FINANCIAL LITERACY PROGRAMME
Botswana Telecommunications Corporation Limited (BTC) has launched its financial inclusion programme in Hatsalatadi village. Through this initiative, BTC has partnered with Bank of Botswana to take mobile financial services (MFS) to Batswana, countrywide. The programme is designed to promote financial inclusion as an effort to close the gap to financial literacy and services.
Delivering his keynote address, BTC Managing Director, Mr Anthony Masunga stated that the initiative is in support of the World Bank Group’s Universal Financial Access initiative which aims at ensuring that people worldwide regardless of their geographical position and financial status have access to a transaction account†he said. He further stated that “a transaction account serves as a gateway to other financial services such as insurance and medical aidâ€. Furthermore, he mentioned that Smega mobile money requirements have made it easy for any individual to have access to a transaction account, “to onboard into smega, you are only required to produce you’re a valid national identity card (omang) for citizens and passport for non-citizensâ€.
Speaking at the official launch, the Assistant Minister of the Ministry of Education and Skills Development & Member of Parliament for Lentsweletau & Mmopane, Honourable Tebogo N. W. Makwinja that stated that “BTC as Botswana’s homegrown telecommunications company continues to showcase their expertise and knowledge through an array of products that are completely reshaping not only our digital landscape but enabling financial freedom to Batswanaâ€, furthermore adding that this financial inclusion initiative is made possible by riding on BTC’s 4.5G networkâ€. She stated that financial technology (fintech) through mobile financial services continues to bridge the financial gap for communities that do not have access to services.
Through this programme, a number of activities will be implemented as part of the BTC Smega financial inclusion programme such as financial literacy training for community leaders and members of the public in selected villages across Botswana; training of residents (morafe) on the importance of insurance (funeral cover) for low-income earners and the unemployed, the promotion of financial literacy to residents through artistic expression such as drama, music, poetry etc. through partnernerships with artists from the selected villages.
Additionally, BTC will donate and handover service point startup kits to the Village Development Committees (VDCs. ) as well as the employment of the youth in the selected villages who will serve as BTC financial inclusion champions. The champions will provide and carry out services such as; ‘know your customer’ for smega, sim card registration and other BTC services in their respective village and surrounding areas.
Giving his appreciation remarks, Kweneng District Council Chairperson Honourable Allen Jacobs thanked BTC for this great initiative. He thanked the Assistant Minister, Government officials and the village leadership for attending the event and engaging morafe on this great initiative.
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BOTEPCO making strides
BOTEPCO, the Botswana Teaching Professionals Council, is making significant strides in its mission to regulate and professionalize the teaching profession in Botswana. In recent months, the council has embarked on a countrywide tour, visiting 10 regions and 20 sub-regions to engage with teachers and address their concerns.
Established under the provisions of the Botswana Teaching Professionals Council Act, BOTEPCO is a body corporate with a board of council members representing various stakeholders in the education sector. Its mandate includes regulating the teaching profession, maintaining professional and ethical standards for teachers, and advocating for their rights.
Despite being a relatively new organization, BOTEPCO has achieved a lot in a short period of time. In June 2023, the council held its first media engagement, laying out its roadmap for the future. Dr. Raphael Dingalo, the Founding Registrar of BOTEPCO, expressed gratitude to the media for their support and coverage since the council’s inception.
During their countrywide tour, BOTEPCO engaged with teachers in various regions, including Kgatleng, Kweneng, South East, North West, Chobe, Central, North East, Kgalagadi, and Ghanzi. These engagements brought to light several key issues, including the need to professionalize the teaching profession and the importance of obtaining a teaching license.
One of the concerns raised by teachers was the potential for intimidation, victimization, or dismissal by certain quarters. BOTEPCO assured teachers that they would not tolerate any form of intimidation and would protect their rights. The council also addressed the issue of registration and licensing fees, taking into consideration the financial standing of teachers.
Another question raised was whether unemployed teachers would be required to accumulate Continuing Professional Development (CPD) points when applying for license renewal. BOTEPCO clarified that there would be different categories of registration, taking into account the employment status of teachers.
Looking ahead, BOTEPCO has plans to develop a system that will streamline the registration and licensing process. This system will allow applicants to apply for registration, renew licenses, and make payments online. The design of the system is currently under review.
BOTEPCO is making significant strides in its mission to regulate and professionalize the teaching profession in Botswana. Through its countrywide engagements and commitment to addressing teachers’ concerns, the council is working towards elevating the professional status of teaching. With plans to develop an efficient online system, BOTEPCO is poised to further streamline the registration and licensing process, ensuring a smooth and professional experience for teachers.
Corporate
Enko Botho Celebrates Academic Excellence: Graduating Class of 2023 Marks Milestone Achievement
Enko Botho School is proud to announce and celebrate the remarkable achievements of its graduating class of 2023 which marked the school’s first ever graduation ceremony with 3 completing groups being the IGCSE, AS Levels and IBDP classes. The spectacular graduation ceremony, which was held at the Enko Botho multi-purpose hall was a joyous occasion filled with pride, heartfelt speeches, and the recognition of the remarkable accomplishments of the graduating students.
According to the Head of School, Mr Benjamin Green, this was a momentous occasion worthy of celebration as this was the first time the school had 3 graduating classes.
“This is a significant milestone in our journey as an educational institution still considered to be in its infancy stage. We are proud of how far we have come and are super proud of the graduating Classes of 2023,†he says.
Located in Block 7, Gaborone, Enko Botho has positioned itself as an educational institution with a reputation for providing quality education that empowers students to reach their full potential. At inception, the school had only 36 students in a tiny building and now boasts over 400 students and 37 state-of-the-art classrooms across three blocks.
To this, Mr Green thanked the parents who took a risk with the school in 2020 and entrusted them with the education of their children. He expressed great joy at seeing some of the faces that started with them in 2020 at the height of COVID-19, not only graduating but having grown and transformed into responsible young adults who he hopes to see fly high and do exceptionally well in future.
As Enko Botho continues to shape the future leaders of Botswana, the institution’s ambition is to be a school of choice for parents who aspire to the best outcomes for their children in Botswana. Through its dedication to academic excellence, character development, and global perspectives, Enko Botho is making a lasting impact on the educational landscape and the lives of its students.