As part of the banks quest to fulfil its financial inclusion mandate, Botswana Savings Bank (BSB) has focused more on expanding its footprint across the country to take its services to the communities it serves during the 2020 fiscal period said Nixon Marumoloa, the Banks Chief Executive Officer (CEO).
According to the CEO, BSBs focus in 2020 was expansion, visibility, continued mobilization and delivery of its inclusive finance agenda to provide simple, appropriate and accessible financial solutions to the under-served in a sustainable manner.
In order to achieve our goal, the bank had to make compromises on some of our short-term goals in order to fulfil long term solutions to our customers. In advancing the banks financial inclusion agenda, we are proud to announce that BSB launched four (4) Automated Teller Machines (ATMs) in Gaborone, Mogoditshane, Old Naledi and Bokaa. This is in partial fulfillment of our strategy and commitment to our communities to ensure that our products and services are accessible to all. It gives us pride to be the sole service provider in these areas where financial services were previously non- existent, Marumoloa said.
Botswana Savings Bank is currently approaching the final year of its strategic period of 2016-2021. Marumoloa said BSB is now more determined to ensure that the Bank totally transforms to provide life events, cradle to grave products through digitised service channels for all income groups in Botswana and beyond.
Improved products will be launched into the market during 2021, moving on to 2022. The highlight product for the new financial year, according to the CEO is the Pensioners Loan facility.
This product will ensure that the marginalised senior citizens continue to have financial freedom and access to financial services during their years of retirement, he noted.
Further, the BSB CEO added that it is in the final year of the strategic period that the digitisation and integration programme will be executed and partially completed, with some elements overlapping into the following financial year. He said Point of Sales Machines will be deployed across the banks network to enable the phasing out of passbooks which will be replaced with Visa enabled BSB Debit Cards.
As other banks close branches, we will open new branches and service points across the country to ensure we live up to our mandate of financial inclusion, he stated.
The History of BSB stretches back more than 20 years. The bank has since experienced transformational growth, moving from a traditional bank to a 21st century financial institution with independent branches in Gaborone, Francistown, Serowe, Mahalapye and Hukuntsi.
The BSB Chairman Mr Kealeboga Molelowatladi added that BSB continues to increase its physical proximity to its customers as part of its financial inclusion mandate which has been embedded into the banks corporate strategy.
Ultimately, our goal is to increase our footprint and brand visibility as we provide affordable savings solutions across the country, he expanded. Moreover, Mr Molelowatladi highlighted that The Bank is determined to ensure that it delivers on its five-year strategic plan by end of 2021. He noted that the bank has embarked on various long-term projects that are currently work in progress.
These projects are part of the banks growth strategy with a focus to increase our footprint in Botswana.
Mr Molelowatladi stated that, this includes the opening of new branches across the country to ensure that BSBs services are accessible to all Batswana.
However, he revealed that a major drawback in implementing the banks strategy was lack of integration of systems. As a solution however, he affirmed that the Bank is working on implementing new systems to improve the banks efficiency and effectiveness.
We are looking forward to the phasing out of the traditional passbooks as we introduce digital channels and automate our processes for customer convenience. We remain confident that despite the rapid changes in our economic environment, our strategic priorities will enable us to drive sustainable growth for our business, he said.
During the same period, he also revealed that the bank identified a superior banking system that will be implemented and rolled out by 2021. He said, this banking system shall be the backbone in the banks digital transformation. In his views, it is through this system that the bank will optimize its internal processes to provide a sound value proposition to Batswana and improve profitability of the bank by reducing the cost to income ratio.
The Bank continues to be profitable, with the year ended 31 March 2021 returning a modest profit after tax of P5.2 million due to pressure on both revenue and rising costs. Although the result could be easily read as a regression on the results of the year before, a simple reduction of the government grant received in the previous year paints a picture of a bank that is set to realize an improvement in its operating margins when measured by a significant growth in advances. The banks balance sheet continues to grow year on year.
As a result of the COVID-19 pandemic, hinderances have become quite the norm but the Bank has managed to persevere and remain true to its strategic objectives. This reflects the undeniable resilience and the progressive leadership that is at the helm of the Bank. The expansion plans that are underway are a harbinger of the growth and success that BSB is on the verge of achieving.
This past weekend, Botswanaâs ambassador of Sister in law movement hosted 120 attendants for the I am Lady Justice Workshop. The workshop is said to empower women through legal education.
The topics that were discussed during the workshop included; Marriage, divorce, child maintenance, wills, employment law, cyber law and financial literacy.
Sister in law is a movement from South Africa that was founded in 2018 by attorney Tebello Motshwane.
Giving a background of how the movement started in Botswana, Tebele said she was inspired by her shared vision with the founder of sister in law to empower women through legal education.
âI came to learn about sister in law through social media. I flew down to Johannesburg to attend the first sister in law workshop in March 2019, met with Tebello, the founder and gelled. The rest is history. I am now the Botswana ambassador of sister in lawâ Tebele said.
ABOUT SISTER IN LAW
When giving her remarks, founder of the sister in law Tebello Motshwane revealed that her motherâs divorce inspired her to start the movement.
âSister in law started as a Blog and was inspired by my own mother who went through a divorce so I became very interested in studying the law because my grandfather always advised me to study law so I can understand why certain things happened when going through a divorce.â
She said after studying law she started the platform as a way to ensure that other women will never find themselves in the position that her mother was left in âdivorced with two minor kids in Johannesburg not knowing where to start.
âSome of the information is crucial so you would wonder why women are being disempowered because they cannot afford a legal consultation. So I decided to make this information available online so women can be empowered.â
Motshwane further alluded that the project is a personal passion that she took on to herself to say that the next women who could not afford an attorney would at least have a direction a guide to start.
âWomen are already there browsing through make-up, jokes, tick tock so you may as well be empowered as well, so thatâs how sister in law came about.â
First National Bank Botswana (FNBB) is pleased to announce that the highly anticipated First Wine Show is back, and wine enthusiasts are in for a memorable experience this weekend from Friday 26th May 2023 to Saturday 27th May 2023 at Molapo Piazza. The annual event brings together wine enthusiasts to indulge in a world of flavours and connect with fellow connoisseurs and experts in a great ambiance. âWe are excited to host and interact with wine lovers this weekend and promote the lifestyle brand that FNBB is. This event gives us an opportunity to mingle with our stakeholders in a relaxed atmosphere of great wine coupled with the best culinary experience,â said FNBB Director of Retail, Ms Monkgogi Mogorosi. She also mentioned that the event promises to be a remarkable fusion of refined tastes, cultural appreciation, and captivating interactions and provide attendees with a great experience, highlighting that the Bank has partnered with Tamasa Trading to make this possible. The two-day event will start with an exclusive invite only engagement for Premier and Private clients which affords the Bank an opportunity to unpack its value proposition while promoting networking amongst attendees. This will be followed by the Saturday engagement open to wine lovers by purchasing tickets for only P 250. There will be 100 different types of wines available from 13 privately owned wineries ensuring the quality and exclusivity of the wines. Patrons will be spoilt for choice with multiple internationally awarded wines and South African award-winning wines available for tasting. All the wines available for tasting will also be for sale at the event at special prices. The wine show is expected to attract a large crowd as it is one of the most sought out lifestyle events in the calendar.
In continued efforts to empower young students across Botswana through the Digital Schools Programme, Orange Botswana through the Orange Foundation don handed over digital equipment worth P53, 731.50 to Thankane Primary School, located in Jwaneng.
We are excited to be in Jwaneng and to see yet another milestone for impact being delivered. This relationship began with a view towards working together inclusively and sustainably – give children greater access to quality education. This is, after all, a key goal within our Vision 2036 and even of the UN Sustainable Development Goals. It is also core to our values and beliefs system at Orange Botswana. Our Digital Schools initiative is a true testament to the Orange Botswana Foundations unwavering commitment, loyalty, and support towards the youth of Botswana, said Benson Lenong from Orange Botswana.
Donated equipment includes but is not limited to:
50 tablets loaded with local syllabus content
1 Video projector
1 Raspberry servers
1 JBL Speaker
1 Case (to contain the package)
The Orange Botswana Foundation, in partnership with the Government of the Republic Botswana, embarked on a quest to empower and educate the youth of the country through giving them better access to technology through Governments Education & Training Sector Strategic Plan (ETSSP). Orange Botswana signed a Memorandum of Understanding (MoU) with the Ministry of Basic Education and Ministry of Local Government and Rural Development in 2017, to kickstart a pilot of the Digital Schools Programme in 2018. The programme has seen 16,225 students benefiting from deployed schools, with 102 teachers trained in using digital kits as a mode of teaching. Thankane Primary is the 52nd school being engaged as part of the nationwide initiative.
The Orange Digital Schools Project is all about utilisation and integration of ICTs in learning, while at the same time addressing issues of digital inclusion and digital literacy. The Programme aims to bridge the digital gap by leveraging technology to improve access to education in primary schools such as Thankane.
Thankane Primary School was established in 1989 with 324 learners enrolled from Jwaneng and surrounding communities. The school continues to perform well in the Primary School Leaving Examinations (PSLE), and consistently works to ensure children learn vital life lessons both inside and outside the classroom. As one of the highest-ranked academic schools in the South region, Thankane Primary boasts excellent academics, leadership, sports, and culture.