Job openings in the banking sector edged up slightly in 2023, though labour market conditions remain generally depressed.
The 2023 Banking Supervision Report indicates that employment in the banking sector rose from 5,021 in 2022 to 5,094 in 2023, reflecting a growth of 1.5 percent.
The increase in employment within the banking sector was observed across six banks, reflecting business expansion and branch growth. Conversely, four banks experienced a decline in staff numbers due to increased automation, the adoption of digital channels, resignations, retirements, and terminations.
Overall, small banks saw a substantial staff increase of 27.2 percent, growing from 996 employees in 2022 to 1,267 in 2023, while large banks experienced a slight decrease of 1.2 percent, dropping from 3,450 to 3,410 during the same period. This rise in employment among small banks is largely attributed to the conversion of one bank from a statutory to a commercial entity. The proportion of expatriates in the banking sector remained steady at 0.8 percent, with the absolute number declining from 42 to 41.
While banks are increasingly leveraging technological advancements to digitise their product offerings, the report notes they continue to selectively open branches and increase the number of automated teller machines (ATMs) to reach more customers in areas lacking physical presence. Overall, the number of bank branches rose by two, from 172 in 2022 to 174 in 2023. Similarly, the total number of ATMs increased from 629 in 2022 to 636 in 2023. “Generally, ATMs are interactive and provide easy access to a range of financial products, such as cash deposits, wallet access, cash-out for mobile money, balance checking, and access to other banking services,” the report states. “However, the increasing use of mobile banking services by customers may reduce the preference for ATMs as a distribution channel.”
The geographical distribution of the branch network remained largely unchanged between the end of 2022 and 2023. The South East District, which includes the capital city of Gaborone, had the highest concentration of branches at 63, followed by the Central District with 40. There was an increase of one branch each in the Northwest and Central districts during 2023, while the branch networks in other districts remained stable. Meanwhile, the number of point-of-sale (PoS) terminals rose by 6.5 percent, increasing from 22,240 in 2022 to 23,683 in 2023, which can enhance financial inclusion. Just over half of the terminals are owned by FNBB, with the remainder shared among Absa Bank Botswana Limited (Absa), Stanbic, Bank Gaborone, and Access Bank.
