24 Nov 2013

Establishment of the Rand Merchant Bank (RMB) in Botswana is testament to the country’s positioning as one of Africa’s most competitive business environments.

Speaking during the launch of RMB on November 19, the Minister of Trade and Industry, Ms Dorcas Makgato-Malesu said the setting up of leading brands such as RMB was a measure of the level of confidence investors had in Botswana.

The RMB brand though new to Botswana, she said, boasted a strong reputation of excellence across the African continent, noting that RMB always had a strategic collaboration with FNB Botswana.

Ms Makgato-Malesu said this collaboration had supported some of the local institutions and businesses such as the Choppies Enterprises, Morupule Colliery, Botswana Development Corporation, BotswanaPost and Botswana Meat Commission.

She expressed hope that RMB Botswana, together with FNB would continue to support small and large corporates, state- owned enterprises and the SME sector by providing them with access to finance.

Ms Makgato-Malesu noted that RMB was a corporate and investment bank built on a tradition of entrepreneurship and innovation.  She said they hoped to see increased employment and development coupled with nurturing of skills amongst Batswana, and a stronger drive for a more innovative and empowered generation.

“According to the index, foreign investors are attracted to Botswana by its political stability, good governance, relative ease of conducting business affairs and strong protection of foreign investments, she said.

The minister said ‘Where to invest in Africa’ report ranks Botswana in position six in Africa and second in Southern Africa. This, she said was because Botswana offers investors strong infrastructure base, an efficient legal system, low corruption, market access within SACU, low taxes and efficient financial services sector.

The chief executive officer of First National Bank Botswana (FNBB), Ms Lorato Boakgomo-Ntakhwana noted that the launch of RMB Botswana underscored the groups’ positive stance to grow its business operations in Botswana, as well as to bring business solutions to its customers. 

The FirstRand Group, she said, was renowned for excellent products, innovative solutions and customer care that are unmatched in the banking industry.

Ms Boakgomo-Ntakhwana stated that operating their corporate and investment banking business under the RMB brand allowed them to leverage their collective expertise, knowledge and strength to provide their valued customers with an even more comprehensive, focused and specialised banking services.

RMB Botswana, she said would offer their clients tailored-made solutions for their specific needs, by providing a wide range of comprehensive investment banking products and services.

These, she said, would include corporate finance, trading solutions, infrastructure and project finance, adding that the portfolio would also include structured trade and commodity finance, fixed income, currency and commodity services.

The chief executive officer of RMB, Mr Alan Pullinger said they strived for a very high level of governance and reputation which needs to be robust constantly. He said they are not a bank that competes on price but on value through applying innovative ideas. ENDS