07 Apr 2022

Government continues to strive for a conducive environment by reviewing legislations such as the Banking Act, the Bank of Botswana Act and the Non-Financial Institutions Regulatory Authority.

Opening First Capital Bank’s fifth branch in Maun on April 7, Minister of Finance and Economic Development Ms Peggy Serame said the move was meant to enable the growth of the financial sector and to be at par with evolving financial standards.

The minister, therefore, encouraged the financial sector to continue abiding by the global financial standards following the country’s removal from the Financial Action Task Force’s grey list.

Ms Serame said it was worthwhile that the bank found the need to expand so as to bring services closer to its customers across the country.

She observed that opening a new branch was in line with the National Financial Inclusion and Strategy, which aimed to improve the growth of the economy and the livelihoods of citizens.

She thus emphasised the need for banks to play a pivotal role in financial literacy to impart skills on among others saving, credit, debt, investment and budgeting.

She also lauded First Capital Bank for the role it played during the Global Money Week by ensuring that young people were financially aware from a young age.Ms Serame said First Capital Bank Botswana, which had 13 years of existence in the country, employed about 200 staff of which 27 per cent were youth and 73 per cent were women.

She commended the bank for its efforts in charity work as it had assisted orphans and vulnerable children and people with disability in the past.

First Capital Bank chief executive officer, Ms Reinette van der Merwe expressed happiness that the Maun Branch finally opened after delays such as COVID-19.

Ms van der Merwe said First Capital Bank, which started from humble beginnings, had grown over the years in Botswana and the Southern African Region as it had branches in Malawi, Zambia and Zimbabwe.

She said the bank aimed to provide timely financial solutions to its clients. ENDS