Revamped BoB HQ unveiled
Pauline Dikuelo | Monday August 28, 2023 06:00
Developed by Stefanutti Stocks, the revamp started in April 2019 and was delayed by eight months due to the COVID-19 pandemic in early 2020, which brought about supply chain bottlenecks and work management issues.
The outbreak of the Russia and Ukraine war as well as an energy shortage in South Africa also added to procurement challenges and risks.
Speaking during the opening on Wednesday, BoB governor, Moses Pelaelo said the construction of the building was guided by a framework of risk management, continuous quality control, environmental and work management, as well as occupational health and safety plans.
“The project was completed within time and budget and the initial pre-planning and scheduling of the project helped the Bank to successfully manage risks,” he said.
Officially opening the revamped headquarters, President Mokgweetsi Masisi, hailed the BoB’s remarkable performance across the various functions and responsibilities it has been assigned, saying this had built trust and confidence in transacting and helped the value of the pula.
“A rate of increase in prices which is lower than or comparable to other countries also means that over time the domestic industries in Botswana could maintain price competitiveness in foreign markets and against imports,” he said.
“Additionally, the value, trust, and confidence in the pula are also reinforced through continuous availability of clean banknotes and coins, maintenance of the integrity of payment systems, and the availability of foreign exchange reserves for international trade, all under the stewardship of the Bank of Botswana,” he said.
About 70% of the old buildings were retained and repurposed for re-use with new developments including new office buildings and expanded conference facilities which were enlarged by an additional 208 seats to the 100-seat auditorium. The new headquarters also includes several breakaway meeting and training rooms as well as a knowledge centre and a currency museum.
The revamp also features a cafeteria, gym, clinic, and an office for staff organisations such as the central bank union, sporting club, and the burial society. A modernised and digital banking hall has been established to serve the revenue collection and direct processing into government accounts at the Bank of Botswana.
Building support facilities include covered car parks, waste management, processing areas, and the storage and former vault that was repurposed as an energy centre.