Bank Gaborone Opens Branch In Molepolole

BABOKI KAYAWE
Staff Writer | Monday February 15, 2010 00:00

Speaking at the launch of the latest branch Friday, Bank Gaborone's Managing Director, Andre Barnard said, though it is difficult to say what their expansion plan for the next five years is, the bank mandate is to extend its network throughout the country especially through in-store banking.

'In September 2006 we opened our first branch in Gaborone, the Mall branch, followed by the Game City Branch, then Francistown and now we have opened our fifth branch in Molepolole,' Barnard said.

Barnard said the establishment of their fifth branch in Molepolole was necessitated by the area's population of over 69, 000 people.

'It was only logical and fitting for the next branch, after the two cities, to be opened here,' he said.

Over P1.5 million was injected into the furbishing of the branch. However, about P2 million will be needed to set up their sixth branch which will open in Gantsi in a period of two months.

The Molepolole branch currently employs five people. It offers products including home loans, vehicle and asset finance, transacting accounts and savings and investment accounts. Also attached to the branch is the BG finance office, which offers loans between P200 and P60 000.

Bank Gaborone's network expansion efforts are linked to the objective of employment creation. Today the bank has created 181 employment opportunities for locals.

'Only eight of our 189 employees are non-citizens,' Barnard said.

Bank Gaborone Limited is a subsidiary of Capricorn Investment Holdings (Botswana), whose majority shares are held by Capricorn Investment Holdings Limited, a Namibian financial service group. The group has expanded to Botswana and Zambia.