Acquisition keeps Bank Gaborone on growth path
Isaac Pinielo | Tuesday October 24, 2017 15:26
The deal led to the rebranding of the bank, which was held last week. Speaking during the launch of the bank’s refreshed brand, Bank Gaborone managing director, Sybrand Coetzee said the brand refresh signifies progression of the bank and all its stakeholders.
“It gives us a revived look, and a new brand purpose, ‘to be a connector of positive change’. This change will be brought to life by our new shared culture, The Capricorn Way, which is our internal compass with set behaviours that ensure we deliver positive change,” he said.
He said over the next few months, customers will continue to see changes in the bank’s branches, as it implements the new brand elements. “But one thing we will not change is how we put our customers first,” said Coetzee.
He said being part of the Capricorn Group allows Bank Gaborone to tap into the expertise, skills and support of an entity that is greater than them, adding that in turn the benefit is passed onto the clients.
Coetzee stated that after 11 years in the market, Bank Gaborone has had to find ways to stay ahead of the curve, in order to remain relevant in the ever-increasing competitive industry.
“You may recall that three years ago, the bank went through turbulent times.
We then designed and implemented a three-year turnaround strategy. I am happy to note that we were able to deliver a solid performance during the 2017 financial year with a 98% increase in profit after tax compared to the previous year,” he enthused. He said the board has full confidence in the Bank Gaborone team to achieve its strategic objectives, adding that management team is fully committed to realising this vision of becoming market leader.
Capricon Group representative, Marlize Horn said the acquisition of Bank Gaborone has allowed for more synergies and collaboration between the group companies.
“The Capricon Group is very proud of what Bank Gaborone has achieved since its establishment in September 2006.
In fact, Bank Gaborone was the strongest performer in the group for our past financial year which ended on 30 June 2017, showing growth in revenue of 28.4% and 98% improvement in profit after tax,” said Horn.