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Stanbic Bank Botswana

Stanbic Bank Botswana: Empowering Communities through Sustainable Banking

The challenge of encouraging economic growth in Botswana has long been a significant concern, particularly in a domain where financial inclusion and sustainable practices are paramount. Stanbic Bank Botswana, a member of the Standard Bank Group, has risen to this challenge since its inception 32 years ago. With a commitment to creating value for its customers, the bank has established itself as a key player in the financial sector.

At the helm of this transformative journey is Chose Modise, the Chief Executive of Stanbic Bank Botswana. Under his leadership, the bank has not only become the third-largest commercial bank by profitability but also a market leader in Corporate and Investment Banking. Modise’s vision emphasizes that banking should extend beyond mere transactions; it should empower individuals and businesses alike. “Our mission is to create lasting value for our clients and communities,” he states, reflecting the bank’s core philosophy.

Stanbic Bank Botswana’s approach is holistic, catering to a diverse clientele that includes corporates, SMEs, and retail clients. The bank’s 630 dedicated staff members across 13 branches embody this ethos, working tirelessly to ensure that every interaction is rooted in value creation. This commitment is evident in their sustainable practices, which prioritize community welfare and economic growth.

As Botswana navigates its economic challenges, Stanbic Bank remains resolute in its ambition to contribute positively to the country’s development. With innovative banking solutions and a deep understanding of local needs, Modise and his team are not just responding to the demands of today; they are laying the groundwork for a prosperous future. In doing so, they exemplify how financial institutions can be powerful agents of change in society.

Can you please introduce yourself and your motivation to embark on this sector? 

I am incredibly privileged and honoured to lead Stanbic Bank Botswana which forms part of a diverse and dynamic family of professionals, and this is not a responsibility I take lightly, supported by an exceptional cadre of executives comprising our Country Leadership Committee, and indeed 630 talented staff across Botswana.

Our passion at Stanbic Bank is unwavering, and this is something to be enormously proud of. Together, we aim to establish the Bank as not only a trusted partner in the financial services industry but also as a leading force in shaping the future of banking locally. Botswana is our home; we drive her growth.

My journey with the bank started in January 2022 as the Chief Finance Officer. As the Chief Financial Officer (CFO), I had the privilege of gaining comprehensive insights into the bank’s operations, financial strategies, and brand positioning. This role allowed me to deeply understand the organisation’s core values, its approach to fostering client trust, and the intricacies of aligning financial performance with brand reputation and market presence. I had the privilege to work across 12 African countries in sectors such as FMCG, hotels, banking, and insurance. I am a member of both the Association of Chartered Certified Accountants (ACCA) and the Botswana Institute of Chartered Accountants (BICA).) However, it is more than what is on a resume and less about “me” or “I.” It is my profound belief in the power of leadership to inspire excellence and drive the culture of growth and performance at both personal and team level.

How does Stanbic Bank Botswana leverage its membership in the Standard Bank Group to provide value to its clients? (Include the recent awards, best employer….) 

We are fortunate to be part of the biggest bank in Africa, Standard Bank Group (operating in 20 African Markets), celebrating an impressive history of more than 162 years of operation in Africa. As part of the group, we have access to resources including Standard Bank global expertise, experience from other markets and skills across our banking solutions.

For example, we continuously leverage the depth of expertise and capabilities across the Standard Bank Group, supporting our own Botswana talent to create meaningful and sustainable value for Batswana through our secondments programme. It is what allows and enables us to make a difference for our people, and this is something I am incredibly proud to be a part of.

We further leverage the global expertise of the Group to offer innovative banking solutions to our clients to enhance service delivery, including the Stanbic App, which enables clients to access banking services from their smartphones easily. This application incorporates the most recent global fintech advancements, including real-time transaction alerts, effortless fund transfers, and immediate account management.

We have been fortunate in this space to also earn global recognition in 2024, the Global Banking & Finance Awards for Best Corporate Bank, Best Investment Bank, and Best Trade Finance Bank in Botswana, alongside the Best Bank for Sustainable Development Botswana 2024. We have also been named the Botswana’s Best Bank for Environmental, Social and Governance (ESG) by Euromoney. This is in part building on the exceptional work of our team in Botswana, as well as through leveraging Standard Bank Group.  Standard Bank Group has been recognised by Forbes as one of the Top 20 World’s Best Employers, an incredible feat we are so proud of.  

What steps does Stanbic Bank take to ensure a progressive and meaningful banking experience for its clients and stakeholders?

We want happy staff, happy customers and thriving communities. If we can deliver this, I think we can be proud that we are contributing to Botswana’s growth.

What does this mean? It means we are always solving for our customers’ needs and putting their experience at the fore, offering a modern and valuable banking experience by embracing innovation and on solutions that prioritise the needs of our customers.

We constantly invest in advanced technologies and digital platforms to make banking processes more efficient and improve accessibility, supported of course by the right people to champion this. Our values, our strategy and our talent make for an incredible force to confidently say we are partnering with Botswana and driving her growth.

 

How does Stanbic Bank’s Corporate and Investment Banking (CIB) segment deliver comprehensive solutions to a wide range of client requirements? 

We are proud to be a leader in this space, with a proven track record of tangible results for the business and our clients.

Our Corporate and Investment Banking (CIB) segment offers a suite of solutions tailored specifically for large corporations and multinational clients. By combining in-depth industry knowledge with a strategic understanding of complex financial needs, our CIB division delivers customised services designed to meet the unique requirements of each client.

This includes tailored financing solutions, strategic advisory on mergers and acquisitions, and sophisticated investment strategies that align with their corporate goals and operational challenges across key portfolios. We are constantly introspecting, innovating and levering our insights and expertise to enhance how we grow our clients and deepen the impact we help deliver for them and with them.

Having amongst the very best talent in market is just one part of that, for we also then reach into our extensive Group network and depth of capability whilst still providing an authentic and personal engagement with our CIB clients. It is through this approach that we have supported such momentous transactions with clients such as Vunani, Wilderness and Norsad.

While client satisfaction is a more important metric for us than awards, we are nonetheless privileged to have won such accolades over the years through CIB as Best Trade Finance Bank, Best ESG Bank, and a number of other accolades from Global Finance, EuroMoney and the African Banker Awards.

What role does innovation play in Stanbic Bank’s Personal & Private Banking (PBB) division to meet evolving customer needs? 

Innovation is key across the Bank as a whole and is deeply entrenched in how we create value for our customers across all segments and portfolios, supported by a fervent desire to always ensure exceptional customer experiences as we work to create value for them. We are passionate about our customers, and this drives us to deliver on our mandate.

We work to enhance customer experiences through tailored, innovative solutions. By continuously integrating advanced technologies, such as mobile apps and online platforms, the bank provides intuitive and secure banking options that cater to evolving customer needs.

The focus on technological advancement ensures that both personal and private customers have access to efficient and flexible services that adapt to their changing lifestyles. It also helps us empower our customers (and even our own staff) to manage their financial journeys with greater ease and confidence and the comfort and confidence that we support them at every turn.

How does Stanbic Bank’s extensive branch and ATM network in Botswana contribute to its competitive advantage? 

Client convenience and access to banking solutions is a core component of our business model which includes our ATM network and branches.  We operate 13 strategically located branches across the country and well as 79 ATMs and Point of Sale devices to give our clients the opportunity to transact 24/7.

What strategies does Stanbic Bank employ to stay at the forefront of financial services technology and digitalization? 

At Stanbic Bank, we prioritise innovation by continuously investing in research and development and forming strategic partnerships, including those with technology providers and SMEs through CEEP. By collaborating and staying engaged with our customers, we ensure our digital solutions are both relevant and impactful.

Key initiatives like Unayo, our digital banking platform; Shyft, for seamless foreign exchange and international transactions; and Digital Lending, which offers unsecured loans through digital channels, exemplify our commitment to delivering cutting-edge financial services that meet our customers’ evolving needs. Our staff can be proud that they empower customers with progress, and our customers can be confident we will always have their interests at heart.

What initiatives does Stanbic Bank have in place to support the growth and development of small and medium enterprises in Botswana? 

We support and empower SME growth for we recognise the gravitas of this sector in growing our economy, thus since inception, we have aided many customers and clients to grow their businesses. Some of the initiatives include.

  • Africa China Agent Proposition (ACAP) – launched in 2022, this aims to assist Botswana’s importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China.
  • Accelerate Empowerment Procurement (AEP) – is a flagship asset of Stanbic Bank Botswana, launched in 2019 and drives the Social, Economic and Environment (SEE). It was set up with the view to create shared value and address youth employability and entrepreneurship through a collaborative model that involves the affected to be role players in trying to find solutions for these two issues. This initiative makes it easier for local youth and/or women-owned enterprises to supply their goods and services to the bank. As part of growing small medium enterprises, we had set ourselves a target of P12 million for 2023. We surpassed it to reach transactional spend of P13.4 million for the year under review.
  • CEEP - Stanbic is actively expanding its efforts under CEEP, demonstrating a growing awareness of the connection between economic activities and environmental well-being. Our recent initiatives have involved forming partnerships with Tokalafa, Wilderness, Debswana, and several other organisations. The Bank’s dedication is clear through its strategic investments in green technologies and sustainable infrastructure.

These include:

  • Stanbic Bank Botswana sponsored the 2024 Okavango Wilderness Safaris Local Supplier Expo with a contribution of BWP 150,000.00. This sponsorship supported logistics for nearly 120 local enterprises participating in the Expo. Additionally, it provided significant value to citizen-owned businesses in the tourism and hospitality sectors by helping them access the Wilderness procurement ecosystem.

The Expo aligns with the Bank’s Accelerate Incubator, which champions Citizen Economic Empowerment and the Citizen Economic Empowerment Programme (CEEP), by encouraging local, citizen-owned suppliers to showcase their products and services for potential partnerships with Wilderness camps in Botswana.

  • The sponsorship from Stanbic Bank of BWP 1 million to the Tokafala Development   Programme is aimed at supporting the growth of small and growing business in    Botswana. It aims to address the challenges that entrepreneurs often encounter in the country. The services provided by Tokafala have benefitted over 215 Small and Medium Enterprises, offering valuable advice and mentorship to entrepreneurs. This support has enabled them to enhance their business, financial management, and   marketing skills, ultimately leading to the establishment of successful and sustainable businesses.