First Capital Bank Pledges Support For SMEs
Kaone Maje | Monday December 10, 2018 14:02
The Bank’s vice president, Raj Patel said they have played an important contribution to Botswana’s economy by funding several businesses that started out small, but have grown substantially.
“Our strategy worked and helped us to outperform other players in the industry over the past five years,” Patel said at the launch of the Bank’s new head office recently.
“We know our clients and understand their businesses and the environment they operate in, which allows us to respond to their needs quickly,” he added.
Patel said they would retain the focus on relationships as they continue their journey to become a leading and nimble regional banking group, which can keep pace with their clients as they seek to expand into new markets. As part of the journey, the Bank recently rebranded to create a new and cohesive brand identity for all their operations across Malawi, Botswana, Zimbabwe and Mozambique.
Patel further said changing the name to fit ‘First’ may seem small, but it represents a far greater step in the evolution of the Bank. According to the vice chairperson, the new name also reflects the regional reach, which will allow them to serve their clients as they seek to do business in new markets.
“For our clients in Botswana, this means that their relationship with this Bank also extends into the other markets we operate in,” Patel said. “It means we can continue to partner with them as they grow to show our neighbours in the region what Batswana businesses can offer. We are optimistic about the outlook for our country’s economy and we greatly value government’s commitment to assisting the private sector to grow,” he added.
President Mokgweetsi Masisi, who was officiating at the event, said the partnership between government and the private sector should be strengthened for job creation.
It will also ensure that the private sector thrives, said Masisi, adding that the Bank has also established a cluster development programme that seeks to improve business productivity. The President said the Bank introduced digital banking infrastructure, which is the latest efficient technology.
First Capital Bank commenced operations in Botswana in 2008 as Capital Bank. Over the past decade, the Bank has grown to now employ 160 people and serving more than 18,000 customers. The Bank currently has four branches; three in Gaborone and another in Francistown.
FMB Capital Holdings, which is based in Mauritius and listed on the Malawi Stock Exchange, holds a 38.6% shareholding in First Capital Bank Botswana.