Standard Bank Boss Engages Local Stakeholders
Monday, February 03, 2014
"The team used the occasion to meet with Stanbic Bank senior management, regulators and some customers in Gaborone," Stanbic Botswana says in a statement. The statement says the visit came at a time when both Standard Bank Group and Stanbic Bank Botswana strived to further strengthen relationships with the local business community. "The visit further served as an opportunity for Tshabalala and the Standard Bank Group team to better appreciate the local market and business," it states.
It further says this is especially so following Stanbic Bank Botswana's transition into the new Core Banking System which went 'live' in March 2013. "This system is one of Standard Bank's largest-scale projects in recent years," it says. The statement notes that as a group, they pride themselves in making every effort to provide customers and clients with a world-class service. Tshabalala said they had motivated and dedicated people who were focused on ensuring that this happened on a daily basis. He stated that they were proud of their Botswana business and what the entire Stanbic Bank team in the country had achieved over the past 22 years.
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...