Launches ATM in Kang
The chairman of Botswana Savings Bank (BSB) Board of Directors, Kealeboga Molelowatladi, says his bank has taken a deliberate step to ensure financial inclusion by launching services in areas where there are no such facilities and services.
He was speaking on Friday at the launch of an ATM in Kang in the Kgalagadi district.
“In providing financial services to Botswana, there are real constraints that make such an undertaking a mammoth task, due to demographic and geographical issues. There are two of such major challenges hampering this,” he said citing that as a large country, with a small urbanized population providing financial services to a small population, does not augur well for economies of scale.
The second challenge, he said, is that the large size of the country adds substantially to distribution costs; that is “cash – in – transit” costs.
“Although the per capita GDP is one of the highest in SADC and Africa, the country consists of a small group of well-paid adults and many low income earners. Our normal target is the low income earning group and most of these are not cost -elastic. This, therefore, makes the provision of banking services to such a populace a difficult balancing act. Through its strategic partnership with Botswana Post, BSB’s outreach extends into the greater parts of Botswana where there are limited banking facilities, places like our village Kang,” he said.
Showcasing the bank’s footprint, he said BSB has two independent branches (Gaborone & Francistown); three Co-Branded Branches with Botswana Post (Rail Park, Mahalapye and Serowe) and through Botswana Post Offices network country wide, with banking services delivered to the bank’s customers across 124 post office counters.
“In 2016, BSB launched a card-based transactional account and this new account can only be used through an ATM. Currently BSB has ATM’s in Gaborone, Mahalapye, Serowe, Letlhakeng and Francistown and continues with its strategy to roll out more across the country, with particular focus in areas that do not have BSB representation. In the past few months, BSB successfully launched ATMs Letlhakeng and Hukuntsi respectively,” he said.
Among many guests that graced the launch of the ATM, was the Bank’s CEO Nixon Marumoloa and his management team, Kang chief Kgosi Seipone and the village’s political leadership.