The Ministry of Local Government and Rural Development has appointed Botswana Savings Bank (BSB) to disburse social benefits for people with disabilities, the destitute, old age Pensioners as well as World War II veterans.
Through this programme, the BSB customers will each be issued with a Visa debit card to enable them to access and withdraw their cash at their convenience, through their transactional based account.
BSB’s Chief Executive Officer, Nixon Marumoloa said the partnership is a reflection of BSB’s 2016-2021 strategy which showcases that the bank is determined to provide products for all income groups in Botswana.
"This facility will create a lot of convenience and security for the clients with no charge or maintenance fee. The use of the Visa debit cards allows the beneficiaries the flexibility and access to their cash at any BSB ATM or any Visa compliant ATM
The year- long contract will cover the Mahalapye, Palapye, Serowe, Gaborone, Gabane, Tlokweng, Mogoditshane, Mochudi, Ramotswa, Lobatse, Kanye, Moshopa, Molepolole and Goodhope.
"As a wholly owned government bank, BSB understands the needs of the citizens of this country and the Bank is excited to partner with the Ministry to make a positive change in the lives of Batswana.
“It is envisaged to provide the unbanked with a modern and dignified banking service. Access to cash is a major challenge particularly in areas where there is no bank representation," he said.
Collaboration with the Ministry will enable BSB to reach out to the unbanked segment of market.