- Exits NDB on April 1, 2022 after 12 years at the helm
- Morapedi leaves NDB with lot of enthusiasm
- NDB invested P1.7 billion in the agricultural sector
Lorato Morapedi, will next week on the 1st of April leave the state owned bank, the National Development (NDB) as its Chief Executive Officer (CEO) after 12 years at charge of the bank.
Morapedi joined the bank at a time when it was swimming in financial crisis. Morapedi first announced her departure from the bank during a media briefing a month ago.
This week NDB Insurance Agency Board Chairperson Gerald Nthobelan announced the departure of Morapedi from the bank and hailed her for her stellar commitment to the bank.
“You have served the bank with so much dignity and we wish your well for the future. The bank Insurance Agency will be part of the legacy that you have left,” said Nthebolan at the launch of the NDB Insurance Agency in Gaborone; showering praises on the departing NDBCEO, Morapedi.
Morapedi said she will be leaving the bank to go and focus on her private endeavors.
“I am leaving the bank next week and it is on good will. Believe me that I am not being pushed out as it is always alleged when someone is stepping out. I am taking lot of courage and legacy on the achievements that the bank noted for the past 12 years under my leadership and that of the entire NDB team,” said Morapedi during the NDB media briefing last month.
However, it is claimed in some quarters that Morapedi could be one those eyed for vacant Chief Executive Officer (CEO) position at the embattled state-owned Botswana Meat Commission (BMC).
Parliament was informed recently by the Minister of Agricultural Development and Food Security Karabo Gare that the appointment of the BMC CEO would be concluded in near future. Since 2018, the meat commission has had no substantive CEO, the development which is being attributed to its poor performance.
The NDB has in recent years spent P1.7 billion in the agricultural sector.
“The investments were channeled to different agricultural sub sectors made up of P889 million in arable farming, P730 million in livestock production and P51 Million in Horticulture and P10 million in Poultry too. These investments were geared towards improving the commercialization of the sector and enhancing sustainable food production,” said Deputy PS Financial Policy Finance Ministry Boikanyo Mathiba who reflected on the milestones of NDB during the launch of its Insurance Agency.
The upbeat Morapedi said the NDB Insurance Agency feeds into their desire as bank to provide the customers with convenience as part of improving service delivery as the bank diversify its products.
Morapedi said their customers have indicated that it would be convenient to them if NDB could offer a one-stop service centre, encompassing a loan application together with insurance cover.
The Insurance Agency products will be offered through our partnership with Botswana Insurance Holdings Limited (BIHL) subsidiary companies, Botswana Life and Botswana Insurance Company (BIC).
“We are launching this Insurance Agency at a time when the world is still grappling with containing COVID-19, which has changed the way business is conducted across the world. As NDB, we understand the importance of remote onboarding systems, paperless transaction protocols, automated back-office processes, innovative product features, robust business continuity plans, fortified risk assessment processes and internal controls. Hence our desire to stay ahead of the curve in capturing emerging opportunities through the implementation of robust processes from customer interface in our end-to-end process in collaboration with our selected partners,” said Morapedi with optimism.