Stanchart launches a 'Savings Revolution'
Tuesday, February 26, 2008
Said Stanchart's Head of Consumer Banking, Pierre Mourier, last week: "In order to further incentivise savings, and following the success of the recent Personal Loans Win-a-Million Promotion, which created the first Standard Chartered Bank Millionaire, the bank is ready to create another millionaire, this time based on all these savings products.
"The next Win-a-Million promotion is being pre-launched now, once again to create a huge appetite for savings amongst Standard Chartered Bank clients in particular, and Botswana as a whole.
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...