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BancABC’s new brand promise places prominence on enhanced customer experience 

BancABC, the BSE-listed bank, today announced the launch of its new brand promise, “We Understand You” to further encapsulate the Bank’s commitment to its customers and their needs.

The rationale for the launch comes at a time that requires innovative and agile financial solutions in order to improve customer’s banking experience, deliver consistent quality service and solidify relationships established over the years.

Commenting on the launch, BancABC Managing Director, Kgotso Bannalotlhe said, “The launch of our new brand promise follows a deep dive into our employees, customers, partners, and investors’ expectations, which was prudent in order to understand their evolving needs.  We have taken heed of all the feedback received and remain committed to continuously seeking ways to offer improved products and services, reinventing financial solutions and above all, a seamless banking experience.”

The launch of the three year “We Understand You” campaign, comes on the back of the Bank’s 10th anniversary, and in these rapidly changing and tumultuous times, the Bank has moved with dexterity to fortify its value proposition to its customers. Through the launch of this new brand promise, the Bank seeks to strengthen its offerings within Retail, SMME and Corporate banking.

The Bank’s previous brand promise was “Changing For You” and has now evolved into the “We Understand You” that reflects BancABC’s commitment to understanding its customers’ needs, offering solutions for every stage of their life and business journey, as they strive towards achieving their financial goals.

In light of prioritizing customer experience, the Bank increased its transactional capabilities by launching a new 3D Secure programme called Verified by Visa. This online security protocol, which provides cardholders with an additional authentication layer that confirms the validity of their identity, prevents the unauthorised usage of payment cards. Additionally, BancABC introduced Contactless debit and credit cards, which give customers the convenience of making payments by simply tapping their card on contactless Point-of-Sale machines.

“These customer-centric solutions are a demonstration of our promise to positioning ourselves as the preferred bank for the people of Botswana. These are also proof points of the Bank’s efforts to enhance the transactional capabilities by offering customers hassle-free functionalities that encourage them to transact more; and as a result, improve the overall value proposition,” says Grace Setlhare-Mankanku, Head of Retail Banking.

BancABC also made significant efforts to increase its geographical footprint, by adding four new ATMs to its network at the various Sales and Service Centres across the country, to decrease traffic at the branches and services centres and provide customers with easy access to banking services.

To better serve customers who prefer remote banking and to promote social distancing practices, BancABC successfully its revamped mobile banking platform, SaruMoney which is accessible through USSD and as an App. The Bank continues to expand capabilities on the SaruMoney platform in line with its focus on innovative digital banking solutions.

Designed with the typical Botswana bank user’s needs in mind, SaruMoney has increased security features, ensuring safe, accessible, reliable, and universal movement of funds. Additionally, BancOnline, the state-of-the-art digital platform, tailor-designed for improving the digital banking experience for Commercial Banking customers has also helped spur growth in BancABC’s transactional volumes, further entrenching the Bank as Botswana’s bank of choice.

“We Understand You” is an outward expression to our customers and the communities we serve, and it affirms that we acknowledge them, hear them, and recognise their needs. This is particularly essential for us right now, as we are required to be nimble in order to adapt to market changes, trends, as well as customers’ dynamic needs.

I firmly believe that our new brand promise is a testament to our business’s ability to respond to the evolving market conditions while ensuring we deliver quality services for the next ten years and beyond,” concludes Bannalotlhe.

Business

China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Business

Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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