NDB to become commercial bank

NDB, which was born out of a 1963 Act with a mandate to give out loans that promote the economic development of Batswana, currently only finances agricultural, commercial, property development, industrial and tourism projects and does not take deposits or provide any other products or services offered by commercial banks.But now the bank, which has since been weaned off government funding and relies on funding from the private market including commercial banks, is set to reinvent its systems and the way it operates in a bid to make it more attractive when government disposes of its shares in it.

Speaking in an interview with Mmegi, CEO Lorato Morapedi said a bill to transform NDB into a commercial bank will be tabled in Parliament next year, paving way for the bank to convert into a fully-fledged commercial bank.