As rising living costs continue to squeeze household budgets, saving has become increasingly difficult for many consumers. Yet financial institutions argue that periods of economic uncertainty are precisely when building a financial cushion becomes most important.
For Absa Bank Botswana, that challenge has shaped its Win a Moraka campaign, a savings initiative that combines modern banking incentives with one of Botswana’s oldest symbols of wealth — livestock.
Now in its fourth year, the campaign has become Absa’s flagship savings drive, aimed at encouraging customers to develop long-term saving habits while expanding the bank’s current and savings account base.
According to Absa Head of Liabilities, Personal and Private Banking Lesedi Madisa, the initiative was introduced after the bank observed changing consumer behaviour and growing pressure on household finances.
“The reduction in consumer disposable income challenged us to think differently about how we encourage customers to save. We recognised that building a savings culture remained a struggle for many customers, so we wanted to create an initiative that rewards people for paying themselves first before spending their income,” she said.
Madisa said the campaign was designed not simply as a competition but as a tool to encourage a change in financial behaviour.
“Through the Absa Moraka savings competition, the customer is a winner either way. They either win through the competition or through the savings they have built during the campaign,” she said.
Launched in 2023, the six-month campaign runs annually from July to December. Madisa said the decision to continue with subsequent editions reflects the strong connection customers have made with the concept.
“The branding around the Moraka culture connected with people. Customers understood the message, and that is why we have been able to continue with the second, third and now the fourth edition,” she said.
Unlike conventional savings promotions that typically offer cash or consumer goods as prizes, Absa chose livestock because of its deep cultural significance in Botswana. Cattle ownership has historically been associated with wealth, security and long-term asset building.
“Moraka and savings are strikingly similar because they are both gifts that keep on giving,” Madisa said.
“Savings earn interest, while livestock continues to multiply year after year. We wanted a prize that reflects the type of savings behaviour we are trying to cultivate among our customers.”
The campaign is open to both existing and new customers who maintain a minimum balance of P2,500 in either a savings or current account for three consecutive months. Qualifying customers are automatically entered into quarterly draws, with increased balances improving their chances of winning.
This year, Absa has introduced an additional incentive by offering customers who save through stop orders double entries into the competition, encouraging more consistent saving behaviour.
Madisa said the broader objective is to challenge the common perception that saving should only happen after all other expenses have been paid.
She said customers should instead adopt the principle of “paying themselves first” by making savings part of their monthly financial planning from the beginning.
“With the cost of living so high, savings become even more essential because they provide a cushion should conditions worsen or customers fall on hard times,” she said.
Madisa acknowledged that many households may struggle to set aside money each month but said even small contributions can help build financial resilience over time.
She added that Absa had deliberately kept the minimum qualifying balance at P2,500 since the campaign began to ensure it remained accessible.
“We have recognised that times are hard, which is why we have maintained the minimum qualifying balance at P2,500 throughout the four years of the campaign. We did not want to leave anyone behind,” she said.
Over time, the competition has expanded beyond its original livestock prizes. Customers winning small stock can now choose between goats and sheep, while monthly cash prizes have been introduced to maintain interest throughout the campaign period.
This year’s grand prize winner will receive a Brahman bull and five cows. In total, Absa expects to reward 23 customers, including 18 monthly cash prize winners, four livestock winners and one grand prize winner.
The campaign has also had to adapt to challenges outside the bank’s control. During the final quarter of the 2025 edition, foot-and-mouth disease (FMD) outbreaks resulted in livestock movement restrictions across parts of Botswana, making it difficult to transport animals to some winners.
Instead of delaying the prizes, Absa introduced cash alternatives that allowed affected winners to purchase livestock within their own regions.
“Despite the FMD movement restrictions, we had to keep the promise we made to our customers and not withhold the prizes because of FMD,” Madisa said.
She said the arrangement benefited some winners by allowing them to negotiate directly with local suppliers, although livestock remains the core prize offered under the campaign.
The bank has also designed the initiative to ensure customers can participate regardless of their location, with livestock delivered to winners across Botswana.
“We recognise that our customers save from every part of the country, so the campaign is designed to reach them wherever they are,” Madisa said.
Since its launch, the competition has awarded livestock to 20 customers, while six customers have received cash prizes, mainly because of circumstances related to FMD restrictions.
For Absa, however, the success of the campaign is measured less by the number of winners and more by whether it contributes to lasting behavioural change.
Madisa said the bank’s objective is to encourage customers to build financial resilience beyond the competition period, with savings becoming a long-term habit rather than a temporary activity.
“This is our flagship savings campaign. Absa remains committed to driving a stronger savings culture among our customers and continuing to find innovative ways to respond to customer needs while partnering with them on their financial journey,” she said.
