Bank Gaborone taps into tourism market

Managing director of Bank Gaborone, Sybrand Coetzee told Mmegi Business on the sidelines of the official opening of the Maun branch on Monday that bank has a massive expansion plan. Coetzee explained following the branch opening that their next stop would be another opening in Kasane.

He said plans for the Kasane branch are advanced adding that they are in the process of identifying a building for their operation in the tourism township. He reiterated that through opening the Maun and Kasane branches they want to tap into the tourism sector adding that, however, they also have interests in the agriculture sector. In 2016, the tourism industry accounted for 3.9% of the country’s gross domestic product (GDP) through industries such as hotels, restaurants, travel agents, airlines and other passenger transportation services. These industries further contributed 2.6% to total employment in 2016. Coetzee further shared that they are undertaking viability assessments in other areas in Botswana for future expansion. However, he stated that banking in Botswana is still very traditional saying that they are therefore forced to take the brick and mortar route in their expansion.