A panel discussion at the recently held High-Level Business Engagement Forum focused on the transformative potential of automation and digitalization in financial services, as well as the role of innovation in driving sustainable business models.
Panelists emphasized that innovation is key to enhancing business efficiency, while also highlighting the necessity of infrastructure investment for economic expansion and the need for collaboration in the mining sector to develop skills and improve industry infrastructure.
Moderated by Keletsositse Olebile, CEO of the Botswana Investment and Trade Centre (BITC), the panel included Sammy Mutua, Group Chief Digital and Data Officer at Letshego Africa Holdings; Harriet Mlalazi, Director at Rand Merchant Bank Botswana; Moemedi Malindah, CEO of the Botswana Public Officers Pension Fund (BPOPF); and Charles Siwawa, CEO of the Botswana Chamber of Mines (BCM).
Mining Sector Leads the Way in Automation
Olebile asked Siwawa to elaborate on how the mining industry has automated its processes to inspire other sectors to align with modern business efficiency standards. Siwawa explained that Botswana introduced the Mining Cadastre System (MCS) two years ago, a land tenement platform designed to boost efficiency in mineral rights management. The system aims to ensure accuracy, accessibility, and commitment fulfillment, making it a key tool for investment, transparency, and foreign direct investment.
Through the MCS, investors can apply for exploration licenses, mining leases, ownership transfers, permits, and inspections, fostering growth in the sector. “Instead of going from door to door trying to enter the mining supply chain, we have a system that allows you to enroll and supply the mining industry from anywhere. For example, you can supply Khoemacau Mine from Gaborone,” Siwawa said.
He also highlighted how automation has enabled mining in dangerous areas without risking human lives. “Automated machines are more productive than humans and increase efficiency, resulting in higher profitability,” he noted. When asked how such automation could be replicated in government systems, Siwawa stressed the need for full automation of public services. He acknowledged progress, such as online vehicle license renewals and passport applications, but emphasized that automating all services would significantly enhance public service efficiency.
Pension Funds and Infrastructure Investment
Olebile noted that pension funds like BPOPF are now required to allocate 50% of their assets under management to the domestic market. He asked Malindah how BPOPF could best be enabled to invest locally. Malindah revealed that BPOPF’s portfolio has grown from P1.9 billion to P120 billion, with half of it mandated for domestic investment. However, he identified project implementation as a major challenge, stating that private capital requires efficient processes to generate returns.
Malindah criticized the inefficiency of public procurement systems, which he said hinder private capital allocation to projects. He also raised concerns about foreign intermediaries crowding out local investors. “Some projects that local investors or pension funds should be funding are spearheaded by foreign institutions that act as middlemen, raising funds locally and charging fees without injecting capital into Botswana. We don’t need middlemen; the government must engage local investors directly,” he said.
To address these issues, Malindah called for greater efficiency and the removal of bureaucratic layers that impede implementation. “We need to be at the table with the government without intermediaries. BPOPF can fund large projects directly or through structures like issuing instruments on the Botswana Stock Exchange (BSE),” he added.
Letshego’s Digital Transformation Model
Olebile turned to Sammy Mutua of Letshego Africa to share the company’s model for achieving efficiency, innovation, and growth. Mutua explained that scaling up to 7 million customers across 11 African markets was made possible through partnerships with fintechs, mobile network operators, and service providers. “These partnerships allow us to share data, analyze customer needs, and tailor solutions accordingly,” he said.
Mutua emphasized that digitization must be backed by accurate data to align with customer needs. He also highlighted the importance of public-private partnerships (PPPs) and strategic collaborations, as well as fostering talent to ensure that solutions are developed by people who understand the end-users. He called for aligning graduates with global digitization and automation trends to meet modern demands.
When asked about the lack of up-to-date data in Botswana, Mutua reiterated the need for partnerships and data sharing to address the issue.
Innovation in Banking: FNBB and RMB’s Approach
Harriet Mlalazi of Rand Merchant Bank Botswana (RMB) shared insights on enhancing efficiencies and innovation in the banking sector. She explained that FNBB and RMB focus on solving for the client, catering to a diverse range of retail and corporate customers. While automation is key, Mlalazi noted challenges such as cut-off times in the economy, which hinder 24/7 service delivery.
To overcome this, FNBB has partnered with mobile network operators (MNOs) to ensure services are accessible via mobile phones. “While mobile network penetration is high, data costs remain a challenge. To address this, we’ve zero-rated our mobile application services so clients can access them 24/7,” she said.
Mlalazi also highlighted FNBB’s shift from adopting innovations from the Rand Merchant Group to developing solutions specifically for the Botswana market, some of which are now adopted regionally. She advised the government to benchmark institutions like FNBB, collaborate with key stakeholders, and ensure efficient public service delivery.
