NDB dolls up for commercialisation
Keikantse Lesemela | Monday August 11, 2014 10:37
Currently in the process of being privatised, the statutory bank is undergoing some major changes that will eventually see it running as a commercial entity.
Speaking at the launch of the new logo in Gaborone last week, NDB Chief executive Lorato Morapedi said the rebranding exercise is in line with the privatisation and commercilisation process.
“We are in Basel Two and we want to position ourselves in line with Basel Three as we apply for the banking license,” said Morapedi.
She said the bank has also introduced a strategy that promotes quality in service delivery and products. “This strategy is a bridging approach towards the commercialisation exercise. We are transforming the whole bank. If we fail to transform now, we will fail to deliver,” she said.
Morapedi said transformational developments include strategic customer service training, the launch of the new integrated banking system and office refurbishment.
The bank has been supporting several government programmes including; Botswana Enterprise Development Unit (BEDU), Small Borrowers Fund, Financial Assistance Policy (FAP) and Micro Business Finance (MBF).
Minister of Finance and Development Planning, Kenneth Matambo stressed the importance of organisations periodically assessing their brands to determine their relevance within the ever-changing business climate. “NDB’s rebranding exercise represents a direct response to what is happening in the banking industry.
This re-branding exercise seeks to mitigate against the effects of these challenges, with a strong focus on ensuring that the bank is responsive through distinguished customer service standards and remains connected with emerging and more demanding stakeholder expectations,” said Matambo.
He said the bank has been a unique player in the industry over the past 51 years, providing financial support for investment in unconventional sectors of the economy such as agriculture and rural development.
Matambo also commended the bank for its profitability in recent years, resulting in payment of dividends to government with P11.4 million paid in 2013-2014. “This is a good base to build upon and I am optimistic that this performance trend will continue in the future and improve after the bank has been fully transformed,” he said.
Currently, the bank is administering the Integrated Support Programme for Arable Agricultural Development (ISPAAD) and Foot and Mouth Disease relief fund on behalf of the government.
Upon completion of the privatisation exercise, NDB will be 51 percent owned by the government. Five percent for employees, while the remaining 44 percent will be listed on the BSE with 30 percent restricted to citizens and Botswana registered companies.
The remaining 14 percent of the listed shares will be open for subscription by any interested investor including non- citizens.