Big Five lose ground in banking sector

The BoB wants greater competition. PIC: MBONGENI MGUNI
The BoB wants greater competition. PIC: MBONGENI MGUNI

The smaller players in the country’s commercial banking sector gained ground on the Big Five last year, aggressively competing for deposits and loans, the Bank of Botswana (BoB) has noted.

Lack of commercial banking sector competitiveness has long been a thorn in the side for regulators, as the dominance of a group of established players has meant market access issues for new entrants and the potential for ‘cartel’ type behaviour in costs of services and products.

First National Bank, Barclays, Standard Chartered and Stanbic have traditionally dominated the country’s banking sector in terms of balance sheets and numbers of customers, although in recent years, BancABC also joined their ranks.

Editor's Comment
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From Jakoba's mysterious disappearance on November 9 to the grim discovery of his remains at Mosinki Lands, a gap in the response mechanisms of the police and village leadership has been laid bare. The community's anger is evident, seen in the attack on Bakang Masole, the man found driving Jakoba's taxi and the main suspect, and the subsequent riot. Residents express discontent, citing a troubling trend of missing persons cases often...

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