28 Sep 2026

The Vice President, Mr Ndaba Gaolathe has called on First National Bank Botswana (FNBB) and the financial sector to finance productive enterprise and allocate risk intelligently as Botswana’s economic model changes, saying tomorrow’s jobs and capital will increasingly come from private enterprise.

Delivering a keynote address during the FNBB 35th Anniversary Gala Dinner in Gaborone on Thursday, Mr Gaolathe said capital must help build tomorrow’s export, industrial, agricultural and digital economy rather than finance yesterday’s consumption.

He said at the end of 2025, households held approximately 63 per cent of commercial-bank credit, compared with 36 per cent for businesses, indicating the need for capital to support productive enterprise.

He said First National Bank Botswana ought to recognise viable businesses overlooked by traditional models and share risk intelligently, while supporting citizen enterprises, local procurement, sustainable finance and national projects.

“Banks, development finance institutions, insurers, pension and institutional capital, government programmes and risk-sharing mechanisms have a role to play in allocating risk intelligently,” he said.

“Thirty-five years ago, FNBB placed a bet on Botswana. The financial model must evolve as the country pursues economic transformation,” he added.

Mr Gaolathe said capital should support exports, industrialisation, agriculture production and processing, logistics and digital enterprise, whilst businesses ought to be able to grow and create jobs.

In his welcome remarks, the FNBB chief executive officer Mr Steven Bogatsu said the bank’s 35-year anniversary: themed 35 Years of Help, was a moment to reflect on partnership, relationships and shared progress

Mr Bogatsu said since 1991 FNBB had helped individuals enter the formal financial system, families work towards owning homes and other assets, entrepreneurs turn ideas into business and businesses grow and share prosperity with communities.

He said financial inclusion was about more than access to a bank account, but about giving people the tools, opportunities and confidence to participate meaningfully in the economy.

“First National Bank Botswana continues to invest in entrepreneurship and emerging businesses through initiatives such as First Renewal, helping entrepreneurs take the critical first step with knowledge, networks and financial capability,” he said.

Further, the FNBB CEO said technology and innovation would continue to transform the bank, whilst its focus remained on making banking easier, more accessible and more inclusive.

He stressed that the bank would continue opening branches, because the interface between technology and human interaction was paramount, ‘particularly where connectivity is still developing’.

Mr Bogatsu said FNBB’s 35th anniversary community initiative was supporting 35 community-building organisations across Botswana with P50,000 each.

He said the milestone should not only be something FNBB celebrated, but something where others could also benefit. ENDS