- The new strategy will lead the bank into a new era and will be centred around progress and change
Botswana Savings Bank (BSB) says its three-year strategy plan will set a path to being a fully digital, financially inclusive and a leading Botswana-owned integrated financial service provider.
Speaking at the launch of BSB’s Lesedi 2022-2025 Strategy, Board Chairman Kealeboga Molelowatladi said the strategy will be fundamental in shaping a roadmap for implementation and drive the organisation towards achieving a common goal.
The bank, which goes back exactly 30 years in business, says it has experienced transformational growth over time, moving from a traditional bank to a 21st Century financial institution that continues to roll out with its strategy to branches across the country with a particular focus on areas that do not have BSB representation. “The bank’s growth strategy for increasing its footprint in Botswana includes opening new branches across the country to ensure that BSB services are accessible to more Batswana,” Molelowatladi said.
To enhance its efficiency further and position itself as a 21st Century bank, BSB says it will soon be implementing new systems to improve its efficiency and effectiveness by phasing out the traditional passbooks as it introduces digital channels and automates processes for customer convenience. According to Molelowatladi, this is in line with the bank’s purpose to reach and bank the underserved. “The new strategy comes just at the right time when the bank’s focus is on progress and change,” he said.
“The three-year strategy is premised on key priority areas, which include customer service quality and excellence, sustainability, financial inclusion, organisational efficiency and innovation and strengthening of human capital. This calls for a new and better way of engaging our clients, reaching out to the market, developing relevant and exciting financial services, products and solutions.” BSB is an institution wholly owned by the Government of Botswana. It was established by an Act of Parliament in 1992 with a specific mandate of mobilising the nation to save and providing affordable financial services solutions.