Stanbic Bank Promotes Financial Health
Monday, July 29, 2019
Wabo Moswate
This sentiment comes as the bank drives an awareness campaign for its personal loan solution, with a firm stance on making financial decisions that always contribute to long-term financial health of the user.
According to Stanbic Bank Botswana head of products, Wabo Moswate, responsible lending by financial services providers is crucial. “We are proud to be a financial services partner that is a true partner of growth for our customers and our nation,” said Moswate.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...