Inside the motshelo nest-egg :: Mmegi Online

Three years ago, Barclays Bank Botswana swam against the tide and developed a motshelo account, providing thousands of elderly, young, underserved and more affluent Batswana an avenue to formal banking activities. As the portfolio grows, product development manager, Lonyalo Sefena takes Staff Writers, MBONGENI MGUNI and NNASARETHA KGAMANYANE into the success behind the award winning Motshelo Savings Account

Mmegi: What was the motivation behind setting up the Motshelo account and please give us its brief?

Sefena: We are a bank that exists to help Batswana prosper, and towards the end of 2011, we noted reports of security issues within metshelo, stories of funds being stolen and a lack of reconciliation where members did not benefit from what they had been saving for. Additionally, most groups used spread sheets or even notebooks for reconciliation but at the end of the year, there was no guarantee that these numbers would depict the real picture.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.