Botswana Savings Bank (BSB)
officially opened its two Smart Branches in Botswana at Kanye
Addressing Kanye residents recently, BSB Board Chairman, Kealeboga Molelowatladi, said their bank has a well renowned legacy of continuous financial inclusion outreach and it is indeed committed to creating a conducive banking environment and to driving greater financial inclusion to its customers.
He explained that the BSB Smart Branch, was strategically located along the main road that runs through the village, making it even more convenient and accessible to the community.
He added that for a bank that wants to grow its customer base and provide financial services in areas where there was no representation, BSB recognised that villages like Kanye with phenomenal growth and upcoming developments, there was a need for provision of accessible financial solutions.
“The BSB Smart Branch provides enhanced fully fledged banking solutions to the community of Kanye and surrounding villages. Everyone needs banking services. I wish to encourage you to take advantage of BSB’s affordable financial products as individuals and businesses. BSB has savings and investment products tailor-made for your needs and these can be of aid in uplifting your lives or growing your businesses, so do not be left out,” he explained.
Furthermore, he pointed out that BSB had an active Corporate Social Responsibility (CSR) programme, which was committed to aiding education, arts, social welfare and sports development in Botswana. He added that it was established for the purpose of assisting beneficiaries who were in need and deserving of assistance. He also encouraged the public to diversify their savings portfolio beyond the traditional forms of investments, such as cattle, to include other financial assets.
The BSB Board Chairman said BSB’s mandate supported the Ministry of Finance and Economic Development’s Financial Inclusion Roadmap and Strategy, which lays out the national priorities for the enhancement of financial inclusion in Botswana.
He explained that the strategy was designed to improve the payment system that allows access to low-cost savings products and credit reporting systems. He added that BSB was taking banking services to the unbanked population so that they are not left behind.
The Kanye branch opened its doors to the public last year in June 2021, thereby bringing the total number of BSB Smart Branches to two being Kanye and Gumare branches, four BSB standalone branches in Gaborone, Francistown, Palapye and Molepolole and the soon to be opened Maun Branch. It also has four co-branded branches with BotswanaPost at Rail Park in Gaborone, Mahalapye, Hukuntsi and Serowe.
For his part, Southern District Council, chairman, Thamiso Chabalala thanked BSB for seeing the need to bring development of such magnitude to Kanye. He added that Kanye was a growing village saying the bank would give their residents an opportunity to choose a bank they use to save their money. He pleaded with the community to take advantage of the bank by saving their money there than keeping it in their households which was more risky.
Moreover, when addressing Gumare residents at Gumare BSB branch official opening BSB Board Member, Matilda Basinyi said the bank was owned by Botswana government aimed at giving the nation loans and saving accounts services. She added that Gumare residents could open savings accounts regardless of their employment status. She explained that saving was very important therefore urged them to take advantage of the Gumare BSB branch services.
“BSB has been in existence since 1992 and has grown steadily over the thirty years of it’s existence to a total staff complement of 223. Basinyi also emphaised that their bank was appointed to champion the priority area of focusing on “access to low cost savings products” given the important role the bank played in pioneering savings in Botswana. Furthermore, she added that consumers were currently demanding that financial institutions change the way they do business by becoming more transparent and also by taking an active role in addressing customers’ needs. A call that BSB decided to take into consideration and do to satisfy its customers.
Both banks are placed in malls that are easy to access for customers’ convenience. During both launches, dikgosi, councillors and other village dignitaries were present and appreciated BSB’s efforts of bringing its services to ordinary Batswana.