10 Aug 2014

Organisations should undertake a health check on their brands to determine the relevance and strength of their identities within the ever changing business climate.

Launching the National Development Bank (NDB)’s new corporate identity in Gaborone on August 7, Minister of Finance and Development Planning, Mr Kenneth Matambo said re-branding exercise represented a direct response to what was happening in the banking industry.

He said the banking industry had not only evolved and emerged as a key player in Botswana’s economic development, but had been characterised by competition, new entrants in the market and most importantly, the demand by customers for a quality service.

Minister Matambo said he was pleased to note that the NDB’s re-branding exercise seeks to address or mitigate against the effects of these challenges with strong focus on ensuring that the bank is responsive through distinguished customer service standards and remains connected with emerging and more demanding stakeholder expectations.

He said the bank’s key transformational developments taking place include strategic customer service training, the launch of the new integrated banking system, office refurbishment, business process alignment, commercialisation and privatisation, among others, adding that all these developments are fully supportive of the new NDB outlook.

The minister said the role NDB has played over the past 51 years of its existence, has contributed significantly to the economic development of the country, through provision of a wide range of financial products and services across main sectors of the economy such as; agriculture, retail, commerce among others.

He said the bank has been a unique player in the banking industry over the years, providing the much needed financial support for investment in otherwise unconventional sectors of the economy such as agriculture and rural development. 

The minister said the bank has demonstrated a relenting risk appetite for small, medium and micro enterprises as well as supporting and financing start-ups and expansion of businesses, which some players in the banking industry have been reluctant to finance and support, due to perceived risk associated with these markets.

Mr Matambo noted that the bank has been profitable in recent years resulting in payment of dividends to government with the latest being P11.4 million paid in 2013/14. 

This, he said provided a good base to build upon.

He said he was hopeful that this performance trend would continue in the future and improve after the bank has been fully transformed.

NDB’s track record speaks for itself and clearly shows the pivotal role and the relevance of the bank in the national economy, he said.

Minister Matambo urged the bank to further enhance its performance in order to achieve greater stakeholder satisfaction and positive perceptions.

Mr Matambo said the company’s brand and the brand promise have the biggest influence in stakeholder satisfaction and perception. He noted that the bank’s new corporate identity would support the major transformation programme that the bank has embarked upon and that customers would enjoy a new banking experience defined by excellence, renewed commitment towards serving stakeholders differently and achieving the best practice in the market.

He wished the new NDB to go beyond the new logo and colours, adding that the new identity is a statement to all stakeholders and most importantly, current and potential customers that NDB is ready to provide quality service. ENDS