Botswana Savings Bank has been awarded the winner of the 2021 Best Savings Bank in Botswana Award by the Global Banking & Finance Review 2021.
Global Banking & Finance Review is a leading international online and print magazine, which has evolved from the growing need to have a more balanced view, for informative and independent news within the financial community. Contributors for this publication provide quality and in-depth insight, providing leading players and key figures with up-to-date information within the finance sector.
Botswana Savings Bank Chief Executive Officer, Nixon Marumoloa noted with excitement that, “As BSB we are extremely honored to receive this global recognition. It is a clear indication of the Bank’s unwavering commitment in cultivating the culture of savings and driving its mandate of financial inclusivity in Botswana. The Banks efforts are well represented in the diverse, affordable, and attractive savings products available catering for different customer segments. This has also been augmented by some of the Banks savings promotions dubbed “Polokelo Savings Promotions” offering high yielding returns, supported by the BSB dedicated Team. ”
Given the important role BSB plays in pioneering savings in Botswana, Marumoloa noted that, under the Ministry of Finance and Development Planning, Financial Inclusion Strategy, which aims at improving access to financial services, BSB was appointed to champion the priority area focusing on “Facilitation of Low Cost, Accessible Savings Products in Botswana”. The Bank developed low cost, accessible, flexible savings products for the lower income segment of the population, who are currently excluded. The Bank is indeed a committed partner that has contributed significantly towards financial education and financial inclusion.
Botswana Savings Bank is a member of the World Savings Bank Institute (WSBI), based in Brussels (Belgium). To mark this partnership, annually the Bank commemorates a World Savings Day, to sensitize the nation about the importance of savings. The BSB World Savings Day commemoration is geared towards educating the nation about the importance of savings and encouraging Batswana to diversify their savings portfolio beyond traditional forms of investment.
The Bank is a wholly Botswana Government-owned Bank, has been in existence since 1992 and has grown steadily over the years. BSB has a large footprint across Botswana, provides mostly savings services through the provision of affordable financial solutions. BSB has played a pivotal role in taking banking services to the unbanked population. Through its strategic partnership with Botswana Post, BSB’s outreach extends into the greater parts of Botswana where there is limited banking facilities.
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