Wednesday, May 31, 2023
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • Columns
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Men’s U-19 cricket team preps for world cup qualifiers

    Botswana Cricket Gears Up for Int’l Tournaments

    ‘Amos did not communicate with us on his intention to go solo’- BAA

    Doping Cases Surge in Botswana Athletics 

    BoBA readies Team for African Champs

    Debswana’s Exemplary Sponsorship Elevates Botswana Sports

    The Abilities of Coach Dose Speak for Themselves 

    The Abilities of Coach Dose Speak for Themselves 

    BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

    BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

    Tebogo’s Move to US on Hold

    De Grasse Labels Tebogo a Threat in the World of Athletics 

    Trending Tags

    • Subscribe
    No Result
    View All Result
    • Home
    • News
    • Economy
    • Columns
    • Companies & Markets
    • In Business With
    • Lifestyle
      • Motoring
    • Sports
      Men’s U-19 cricket team preps for world cup qualifiers

      Botswana Cricket Gears Up for Int’l Tournaments

      ‘Amos did not communicate with us on his intention to go solo’- BAA

      Doping Cases Surge in Botswana Athletics 

      BoBA readies Team for African Champs

      Debswana’s Exemplary Sponsorship Elevates Botswana Sports

      The Abilities of Coach Dose Speak for Themselves 

      The Abilities of Coach Dose Speak for Themselves 

      BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

      BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

      Tebogo’s Move to US on Hold

      De Grasse Labels Tebogo a Threat in the World of Athletics 

      Trending Tags

      • Subscribe
      No Result
      View All Result
      The Business Weekly & Review
      No Result
      View All Result
      Home News

      Banking sector employment impacted by COVID induced digitalization

      The number of persons directly employed in the banking sector decreased from 5 172 in 2019 to 5 142 in 2020, a Banking Supervision report revealed.

      mm by Kitso Dickson
      October 26, 2021
      in News
      Reading Time: 2 mins read
      0
      Banking sector employment impacted by COVID induced digitalization
      0
      SHARES
      38
      VIEWS
      Share on FacebookShare on Twitter

      The report released by the Bank of Botswana ascribes this to increased automation and use of digital channels, along with staff resignations and retirements (not replaced), accounting for the reduced employment at those banks.

      While there was a decrease in staff complement for some banks, there was an increase with respect to three banks. Overall, the staff complement for small banks increased by 3.1 percent from 546 in 2019 to 563 in 2020; for large banks, the level of employment declined by 2.3 percent from 4 134 in 2019 to 4 042 in 2020. Expatriate representation as a share of total employees in the banking sector slightly decreased from 1.1 percent (59) in 2019 to 1.09 percent (56) in 2020.

      In response to the COVID-19 pandemic, banks enhanced their digital offerings in an effort to attract and redirect customers away from over-the-counter to remote (internet and mobile) banking platforms and, consequently, reducing visits to branches, in line with the government regulations to decongest business premises in order to stem the tide of COVID-19.

      During the review period, banks introduced 24 new products and services covering a wide range of banking services, such as enhancement of transactional accounts and introduction of cross-border payment services, according to the supervision report. “Most of these products and services target retail customers, with a view to retaining clients, broadening the customer base and expanding sources of income,” the report said noting that some banks have established collaborative arrangements with money-transfer service providers to facilitate provision of financial and payments services to the unbanked segment of the society and hence helping to broaden financial inclusion.

      The restructuring and expansion of operations by banks resulted in the opening of six new branches. As a result, bank branches increased from 155 in 2019 to 161 in 2020. The number of ATMs increased from 542 to 564 during the year. Most of the new ATMs have enhanced functions, including the deposit-taking facility and card-less options for certain transactions, thus improving the convenience of access to transactional banking services. In addition, ATMs are increasingly used for cashing and re-depositing mobile money transfers/payments.

       

      Tags: Banking Supervision ReportCOVID-19

      Navigation

      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      Recent News

      • Reasonability is dicey in employment laws
      • On Independence and Invaluable Insight – The Non-Executive Director
      • Farmers’ capital costs are normal tax expenses
      • Bad service chases away 68% of the customers- Research
      • Chobe Holdings Back to Glory Days of Profitability

      Site

      • About
      • Advertise
      • Privacy Policy
      • Cookie Policy
      • Contact
      • Subscribe
      • E-edition

      © 2021 The Business Weekly & Review. All Rights Reserved.

      No Result
      View All Result
      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      © 2021 The Business Weekly & Review. All Rights Reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?