First Capital’s profits surge 35%

FCB Botswana is part of the FMB Capital Holdings, a Malawi-born but Mauritius headquartered financial group with other operations in Malawi, Mozambique, Zambia and Zimbabwe.

According to the results made available last week, FCB Botswana enjoyed a rosy period in the year to December 2023, with its loan book rising to P4.2 billion, from P3.7 billion. The Bank of Botswana (BoB) kept interest rates flat for most of 2023, effecting a 25 basis point reduction in December, which further eased borrowing conditions for customers.