BSB Commemorates World Savings Day

Botswana Savings Bank (BSB) recently commemorated the World Savings Day at Rakops village under the theme "Savings Give Life A Lift." The theme emphasizes the positive attributes of saving, that indeed saving money is the most important thing human beings should do as it provides a safety net.

In his welcome remarks, Kgosi Diane Jacob of Rakops thanked Botswana Savings Bank for choosing Rakops as the suitable location for hosting this commemorative event. He said that BSB indeed recognizes that even villages like Rakops where there are no banking facilities should have access to financial literacy insight.

Giving the key note address, the BSB Board Chairman, Mr Kealeboga Molelowatladi said the World Savings Day Commemoration’s purpose is purely to promote the habit of saving. He explained that BSB started celebrating the World Savings Day in 2017 in Masunga village and subsequently in 2018 at Hukuntsi village.

Molelowatladi said BSB has a role to drive financial inclusion in Botswana hence it celebrates this international day. He emphasized that BSB is vigorously repositioning itself in the savings space through initiatives such as the development and launch of innovative and high-yield savings solutions.

He commended his bank for choosing Rakops to commemorate this day. " Even though BSB does not have a branch here, this is a clear indication that this bank wants to increase its footprint, its visibility and to create awareness and impart financial literacy to the broader community, " he said.

For her part, BSB Marketing Specialist, Ms Neo Tshiamo imparted financial tips to Rakops residents. She emphasized on budgeting explaining that the latter lies at the foundation of every financial plan. " Unlike what you might believe, budgeting isn’t all about restricting what you spend money on and cutting out all the fun in your life. It is about understanding how much money you have, where it goes and then planning how to allocate those funds best," she explained. One of the village residents performed a closing ceremony by thanking BSB for hosting such a commendable event in their village.