29 Nov 2022

Botswana Institute of Banking and Finance (BIBF) has been urged to continue to provide relevant training to the banking and finance industry.

The institution which has partnered with reputable academic institutions to broaden its training services was implored to keep up with current banking trends.
Other reputable international partners currently working with BIBF include Frankfurt School of Finance and Management (FS), Compuscan Academy and Bangor University and The London Institute of Banking and Finance (LIBF)

Minister of Education and Skills Development, Dr Douglas Letsholathebe said this at a BIBF graduation ceremony for 79 graduates of class of 2020, 2021 and 2022 respectively. The institute could not hold its graduation ceremony in 2020 and 2021 due to the COVID-19 pandemic.

Dr Letsholathebe said  supporting training and education through the institute, banks were investing in a knowledge based economy.

He further explained that the institute provided opportunities to students who would otherwise be excluded in other institutions.

“I therefore have no doubt that the programmes offered by the institute, besides empowering individuals, it also invariably help to foster growth and reduce poverty in the society,” he said.

He was of the view that the country was at a time where banking and finance industry was more dynamic than ever was.

 The challenges faced by the industry, Dr Letsholathebe said needed BIBF to be innovative in their service provision, so as to provide training that met contemporary challenges and opportunities in the banking and finance industry.

“The banking industry is pivotal to the attainment of a financially secure Botswana.

You are expected to influence the strength of the economy, though innovation and capable skilled human capital,” he said.

He cautioned students about cyber-crime saying it changes face almost every day.

Currencies are becoming digital, and banking continues to be provided on digital platforms, it is your duty, as an individual, to keep yourself informed, and adequately prepared, he said.

Welcoming guests Botswana Institute of Banker (BIBIF) council chairperson and Botswana Savings Bank chief executive officer, Mr Nixion Marumoloa congratulated graduates for completing their studies successfully.

He emphasised that as an institution though it took two years for the 21st edition of the graduation awards ceremony to take place due to the COVID-19, they want to hold it annually. He commended families of the graduates and facilitators’ contributions to the progress and achievements the graduates.

He said the graduates were the last to graduants of the legacy programmes, emphasising that the legacies have been instrumental in improving the skills set of employees within the banking industry over the years.

The banking and finance industry was a dynamic one, and after a decade from the global financial crisis of 2007 and disruptions due to the fourth industrial revolution, there was need for pragmatic and innovative skills development solutions to develop evolutionary competencies to navigate complexities of the industry, he said.

“Talking about customer expectations, some years’ back Botswana did not have technological services such as those now provided by Orange money, Smega and others, these services are changing the whole skills.

Mr Marumoloa explained that, the fields in the political landscape, which were challenging established trade relationships and the nature of money, was changing “as are the skills and roles that banks need to be able to operate the 21st century.

Speaking on behalf of students Mr Gofenyaone Boago Lekoba, overall best student and an employee of a private institution named Tsabong Ecotourism Camel Park, encouraged other students to continue working hard to be successful in their career. ENDS