An adverse effect on the global and domestic economy is likely to be felt from the ongoing conflict in the Middle East that has drawn the world’s largest economy, the United States of America, alongside Israel into an exchange of heavy artillery with Iran, in a conflict that now engulfs top emerging markets Qatar, the United Arab Emirates, Saudi Arabia and other Arabian states of the Persian Gulf.

This was said by First National Bank of Botswana (FNBB) Chief Executive Officer, Mr Steven Bogatsu during the presentation of the company’s consolidated financial results for the six months that ended on December 31, 2025 in Gaborone on March 3. 

First National Bank Botswana revealed a profit before tax of P1 billion for the six months ended 31 December 2025.

Mr Bogatsu cautioned that with the Botswana economy already facing global shocks owing to declining commodity sales, the Middle East conflict could place greater strain on the regional and global economy.

Nonetheless, he said FNBB had been committed to working towards a revival of the national economy, including through commitment to the ideals of the Botswana Economic Transformation Programme (BETP).

“Despite a tough economic climate characterised by liquidity constraints and rising costs, the bank managed to maintain its year on year profit margins,” he said.

Buttressing the same view, FNBB Deputy CEO, Dr Mbako Mbo said the bank had worked on being resilient by adopting a disciplined approach towards growth, anchored in innovation, financial strength and long-term value creation.

“Despite a challenging economic environment, we remain focused on running a sustainable and well-capitalised organisation. Looking ahead, we will prioritise non-interest revenue, accelerate digital transformation and embed shared prosperity in all we do,” Dr Mbo said.

He added that their strategic outlook, anchored in the bank’s vision launched last year for the five years ending in 2030, would see them progressing towards modernisation and evolution into a fully integrated financial institution.

“Our ambition is to become more than a bank and evolve into a fully integrated financial institution. As we reach the final phase of our modernisation journey, our platforms are agile and ready for emerging technologies. We are re-imagining client experiences and taking the bank to our clients, not the other way around,” Dr Mbo underscored.

He revealed that in future, they anticipated FNBB customers not only engaging in mobile money transfers through current facilities such as eWallet, but also enabled to access the weather and FNB Premiership football results in one consolidated app.

Dr Mbo said non-banking financial institution transactions from facilities such as those operated by mobile telephony companies had given them competition, but FNBB felt the solution lies in collaboration with NBFIs, as opposed to hostile competition. 

He said their focus for the financial year 2026 would be on strengthening client trust through simplified personal experiences, enhancing operational agility and speed, accelerating digital transformation and high-performance culture, as well as continuing commitment to shared prosperity, including human and social development. ENDS