The newly launched Botswana Savings Bank (BSB) Automated Teller Machine (ATM) brings great business prospects for the people of Kang, situated 402 kilometers west of Gaborone. Despite facilitating an enabling environment for local business prosperity, the ATM grows the Bank's legacy of financial inclusion outreach, said BSB Board Chair, Kealeboga Molelowatladi at the launch.
Molelowatladi noted that Kang's strategic location attracts interests from banks such as the BSB, who want to grow their customer base and provide financial services in areas where the Bank is not represented. "Botswana Savings Bank, is a wholly owned bank by the Government of Botswana and has the mandate to mobilize affordable financial services:" he said.
The Board chairperson however highlighted that there are constraints such as demographic and geographical constraints that service providers encounter in providing financial services to Botswana. He cited that Botswana is a large country and that with a small urbanized population , stating that the reality of providing financial services to a small population does not augur well for economies of scale. He also said the large size of the country adds substantially to distribution costs, which in the bank's case will be "cash-i n-transit" costs.
For her part, Kang Kgosi, Basadi Seipone, said the ATM was a welcome development as it would enable transactions to be made in the ever growing village.
"Money nowadays is wireless, so having an ATM where one can make cash withdrawals and deposits is an added advantage to the residents here," she said applauding BSB for being the 'bank of the people'. She also said that Kang connects Ghantsi, Kweneng and Ngwaketse Districts and the ATM will ease doing business in the region.
She, however, implored the BSB to install another ATM further in the village to make the bank's services even more accessible to other residents who stay in the village.
Councilor for Kang North , Kemmonye Makatane also celebrated the new BSB ATM stating that on a small scale, the initiative has provided employment for the region , from the provision of security guards perspective.