16 May 2018

Vice President Mr Slumber Tsogwane said providing the community of Orapa with broadened e-solutions illustrates First National Bank of Botswana (FNBB)’s commitment to providing an enriched and flexible customer experience.

Speaking during the official opening of FNBB Premium Suite on Tuesday, Mr Tsogwane stated that FNBB continuously uses innovations in the ICT sector to bring banking to the people of Botswana, making financial services more accessible, particularly for the unbanked.

The bank, he said, had over the years introduced a number of products and services to bridge the gap between the banked and unbanked, citing the popular ewallet money transfer, which is available everywhere, and urged banks to continue doing more for communities.

Mr Tsogwane said the opening of a Premium Suite in Orapa was in line with the bank’s strategic thrust around customer centricity and innovation.

The Vice President said the culture of innovation and continuous service improvement in the financial services sector contributed greatly towards financial inclusion of citizens.

He stated that in his inaugural speech, President Mokgweetsi Masisi said partnership between government and the private sector should be strengthened, consolidated and intensified to propel the country to greater heights in terms of job creation and growth.

Mr Tsogwane said it was government’s desire for the private sector to lead in creating sustainable economic growth and jobs for people, reiterating that the private sector should contribute more towards economic growth.

Commercial banks and financial institutions should reorient their balance sheets away from household debt and move towards business lending and other forms of debt, which could sustainably grow the economy of Botswana, he said.

VP Tsogwane stated that in that rebalancing, there was need to have an understanding of unique needs and challenges of small businesses and the youth, particularly so in the prioritised sectors of diamond beneficiation, tourism, beef, agriculture, mining and financial services.

He said the government was currently focused on the role of its development financing institutions such as National Development Bank, Botswana Development Corporation and Citizen Economic Development Agency in the economy, adding that it was important that commercial banks like FNB were willing to partner with the institutions in the provision of finance and credit facilities needed for growth, job creation and economic diversification.

He commended FNBB for being a pivotal lender to agriculture.

FNBB chief executive officer, Mr Steven Bogatsu stated that the opening of FNB Premium Suite was a very significant development for FNBB, given long partnership with the Boteti business community, in particular Orapa town.

Mr Bogatsu stated that ever since Premium Suite was introduced in October 2017, utilisation numbers were increasing and customer feedback was encouraging.

The Premium Suite, he said, is a cashless service, which offers private and premier clients a wide variety of banking services unique among them, investment and advisory services, to help clients diversify their investments vehicles in alignment with their future needs.

Mr Bogatsu said FNBB was the leader in providing innovative solutions. Ends