23 Nov 2017

The opening of branches, adaptation of digital and electronic channels and other platforms for offering banking services to cover a greater number of individuals and businesses augurs well for government’s financial inclusion strategy.

Bank of Botswana deputy governor, Dr Kealeboga Masalila said this during the official opening of the new Barclays Bank-Mahalapye Branch at Watershed Mall in Mahalapye recently.

Dr Masalila said along other banks, Barclays Bank has leveraged on new information and communication technology and the high rate of mobile phone penetration in Botswana and partner with the mobile network operators to widen access to banking services.

He said this include convenience with respect to money transfers and remittances, as well as value added services such as payment of bills and prepaid utilities or services.

He explained that the new branch is inevitably more modern, secure, and convenient and links well with digital and electronic platforms and options provided by the bank, therefore, contributing to an enhanced range and quality of services for customers.

He said Barclays Bank has enhanced the digital channels for service delivery, including upgrading of Automated Teller Machines to incorporate ‘intelligent’ functionality.

However, he said while the benefits of new information and communication technology were significant and should be embraced, risks of compromise of banks should be understood.

“As such, businesses and individuals must be vigilant to mitigate these risks, moreover, the sharing of information relating to these crimes and threats thereto is crucial to containing their spread impact, as well as cooperation in development of mitigation strategies,” he said.

Dr Masalila said it was also appropriate to continue to caution against engagement and participation in illegal deposit and pyramid schemes, which could lead to loss of hard earned resources and financial ruin.

For her part, Barclays Bank managing director, Ms Reinette Van der Merwe said Barclays bank’s journey in Mahalapye started more than 50 years ago and it started as an agency operating from Palapye.

Ms Van der Merwe said it was mainly used to facilitate payment of salaries at month end for the people of Mahalapye and surrounding areas.

She said the agency was later converted into a fully fledged branch offering a wide range of banking services and facilities.

She explained that the old  Mahalapye branch has served the community and their customers well over the years, hence the decision to upgrade and modernise it to the current facility. ENDS