Mmegi Online :: Stanbic promotes savings culture
Banners
Banners
Banners
Banners
Last Updated
Wednesday 22 November 2017, 18:39 pm.
Banners
Stanbic promotes savings culture

Against the backdrop of the low interest rates, Stanbic Bank Botswana has continued to develop products that would make savings more attractive.
By Pauline Dikuelo Fri 14 Jul 2017, 16:29 pm (GMT +2)
Mmegi Online :: Stanbic promotes savings culture








Addressing the media this week, the bank’s chief executive officer Leina Gabaraane said the low bank rates are a double edge sword in the sense that as much as it affects them it also acts to stimulate the economy through cheaper credit for productive lending.

“The reason why monetary policy supports low bank rates is to try stimulate economic growth by getting people to borrow more because when there is great economic activity, it helps stimulate the economy,” he said.

According to Gabaraane, as a bank they have continued to develop products that would make savings attractive as well as offer loan products that are suited to the current environment.

Recently the bank introduced Koketso Savings Account, which encourages a culture of savings on their clientele.

When opening the account, with savings a little as a P100, a client automatically qualifies to enter a competition, which will see someone walking away with a P25,000 prize.

In their endeavour to boost the SMEs participation in the economy, the bank has in the past introduced Purchase Order Financing (POF), which was aimed at empowering the SMEs to participate in the country’s economy.

Through this, an entrepreneur can tender for any government projects and

Banners

provide purchase order to get finance from the bank to deliver the project.

“This product has continued to be well received as it encourages trade activity and creates jobs in turn as most of these SMEs are usually business people who have had the capability but lacked funding; so we have bridged that gap,” he said.

He further said they continue to take part in different sectors across the country to drive the economy including tourism, which he said will help drive economic diversification away from the diamond sector.

In addition, he said they have also played a role in diamond beneficiation by financing companies as well as funding some of the project in the energy and agricultural sectors.

Standard Bank Group regional head of corporate investment, Chris Clarkson said Stanbic Botswana continues to drive performance in line with the group’s strategy and had continued to yield growth with each financial year adding that the bank is one of the leading performers across their regional footprint.

“We continue to grow our footprint across Sub-Saharan Africa as we intend to also take part in the real estate sector, telecommunications, infrastructure, energy, consumer just to mention a few,” he said.

Banners
Banners
Banners


Business
Fri 14 Jul 2017, 18:00 pm
Fri 14 Jul 2017, 16:29 pm
Fri 14 Jul 2017, 16:29 pm
Fri 14 Jul 2017, 16:29 pm
Fri 14 Jul 2017, 16:20 pm
Thu 13 Jul 2017, 18:00 pm
Thu 13 Jul 2017, 15:28 pm
Wed 12 Jul 2017, 18:00 pm
Wed 12 Jul 2017, 16:13 pm
Wed 12 Jul 2017, 16:09 pm
Wed 12 Jul 2017, 16:07 pm
Tue 11 Jul 2017, 18:00 pm
Tue 11 Jul 2017, 15:50 pm
Tue 11 Jul 2017, 15:47 pm
Fri 07 Jul 2017, 18:00 pm
Fri 07 Jul 2017, 17:25 pm
Fri 07 Jul 2017, 17:19 pm
Fri 07 Jul 2017, 17:07 pm
Fri 07 Jul 2017, 16:58 pm
Thu 06 Jul 2017, 17:48 pm
Thu 06 Jul 2017, 17:35 pm
Thu 06 Jul 2017, 17:30 pm
Wed 05 Jul 2017, 16:34 pm
Wed 05 Jul 2017, 16:23 pm
Wed 05 Jul 2017, 16:23 pm
Banners
Banners
Exchange Rates
FOREIGN EXCHANGE: Wednesday, 22 Nov 2017
FOREIGN / PULA
PULA / FOREIGN
1 USD = Pula   10.4603
1 GBP = Pula   13.8696
1 EUR = Pula   12.3001
1 YEN = Pula   0.0933
1 ZAR = Pula   0.7487
1 Pula = USD   0.0956
1 Pula = GBP   0.0721
1 Pula = EUR   0.0813
1 Pula = YEN   10.72
1 Pula = ZAR   1.3356
have a story? Send us a Tip
Banners
  • Previous
    Next
    Masa Centre
    ::: Thursday 23 Nov - Thursday 23 Nov :::
  • Previous
    Next
    Riverwalk
    ::: Thursday 23 Nov - Thursday 23 Nov :::
  • Previous
    Next
    Gamecity
    ::: Thursday 23 Nov - Thursday 23 Nov :::
Selefu
Zimbabwe,Mugabe
Banners
Banners
istanbul escort