Standard Chartered Bank has collaborated with Access Bank to arrange the latter’s inaugural senior unsecured Pula bond, which falls under Access Bank’s P2 billion Domestic Medium Term Note Programme.
StanChart CEO Mpho Masupe expressed pride in the bank’s role as arrangers of this landmark transaction.
“This being the debut issuance under Access Bank’s P2 billion bond programme, we commend the bank for its commitment to expanding its reach and influence in Botswana,” said Masupe.
He emphasised that StanChart is positioned to support Access Bank’s ambitious expansion and diversification strategy through the issuance of this Pula bond.
“The bond is unique in its structure, initially targeting local investors, with plans to expand to international investors in the near term.”
Masupe reflected on StanChart’s 127-year history of partnerships in Botswana. He noted the bank’s early collaboration with the government, including its role as the Reserve Bank of Botswana and as the government’s payroll provider.
“Our sustainability as a bank has been built on identifying strategic partnerships and fostering long-lasting relationships,” he said.
Masupe also highlighted StanChart’s role as the sole international bank in Botswana, describing it as a driving force for growth across various industries.
“This position is achieved through being part of a global group with an extensive, diverse, and unique network,” he explained. “We have the financial and technical capacity for large and unique deals, drawing on global expertise to support the growth of the local economy.”
He further noted that StanChart’s 170-year global history reflects how the bank views partnerships: they must be deep, impactful, and beneficial for all parties, as well as the communities in which they operate.
Access Bank Botswana CEO Shepard Aisam acknowledged the success of the partnership with Standard Chartered in issuing the bank’s first senior unsecured Pula bond under the P2 billion Medium Term Note Programme.
“This transaction demonstrates our shared commitment to Botswana’s economic growth and showcases the power of collaboration between key market players,” said Aisam.
By opening investment opportunities to local investors and planning to expand to international markets, Aisam noted that the bond underscores Access Bank’s long-term commitment to Botswana. He emphasised that the programme aims to diversify funding sources, empower investors, and contribute to the sustainable development of Botswana’s capital markets.
Aisam also expressed the bank’s dedication to positioning Botswana as an emerging investment hub by engaging both local and international investors.
“This bond issuance is just the beginning. It marks the first step in our ongoing journey to support Botswana’s transformation into a high-income economy by 2036,” he stated.
He added that Access Bank remains committed to expanding its footprint in Botswana while seeking opportunities that promote sustainable development and economic diversification.
Access Bank is preparing to issue its first sustainability bond in the near future, according to Aisam.
Botswana Stock Exchange (BSE) Acting CEO Kopano Bolokwe shared his optimism for the collaboration between Standard Chartered and Access Bank, expressing hope that it signals a return to similar high-profile transactions. Bolokwe noted that StanChart played a critical advisory role in formulating and securing BSE approval for Access Bank’s P2 billion note programme.
Bolokwe highlighted the strong performance of Botswana’s bond market, which has surged to a value of P35.3 billion, with liquidity levels also rising, largely due to government bonds.
“So far, we’ve traded P4.2 billion worth of bonds, compared to P1.7 billion during the same period last year,” he said.
The BSE now boasts 137 listed debt instruments, including government, corporate, and sustainable bonds, up from 91 instruments during the same period last year. Bolokwe pointed out that the bond market’s performance this year has already surpassed the total performance for 2023.
