Botswana a unique comfort zone for commercial banks

Botswana's commercial banks have it easy. Despite Batswana having virtually no discretional saving culture, being highly indebted, the country's small population and the lion's share of household borrowing being in the form of unsecured loans, banks remain profitable, thanks to the Bank of Botswana and commercial banks' easy access consumers' payrolls.

As Standard Chartered Bank Botswana's Head of Consumer Banking, Michael Wiegand, puts it, Botswana is a "completely unique market, nothing in the world like it".

His testimony is qualified because before joining Standard Chartered, Wiegand worked and researched for some of the world's biggest banks in the course of which he was responsible for consumer banking in southern Africa, Botswana included.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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