Are we prepared for Africa’s next frontier?

Wabo Moswate Stanbic Bank Botswana Head of Everyday Banking Lending and Cash
Wabo Moswate Stanbic Bank Botswana Head of Everyday Banking Lending and Cash

Bill Gates famously stated, way back in 1994, that “Banking is necessary, banks are not.” As with many things, Mr. Gates appeared to be right on the proverbial money well before others even caught wind of the digital revolution’s arrival.

But, and I mean no disrespect to the Microsoft Founder, but perhaps his utterance was perhaps slightly simplistic given our current reality and the needs of the modern consumer.

Banking today exists in entirely different forms than when the concept was first birthed centuries ago. The rise of mobile money, fintechs and other more transformative platforms has meant that banking itself now wears a different proverbial cloak – we can transact, plan, budget and save – indeed even more than this – in a multitude of different ways that now accommodate the need for greater inclusion and accessibility, that are mindful of more transitive and mobile needs, and which take cognisance of increasing technological advancements. Today, these advancements range from simulation and augmented reality to big data analytics and the industrial internet of things, and even to new business models, artificial intelligence and horizontal and vertical integration and supply chain intricacies.

Editor's Comment
GBV: The big elephant in the room

Sadly, the country seems not to have proper tools and the extent to which women and the girl-child are being abused is not adequately measured.Almost every week there are reports of women being attacked by their significant others and while men are attacked as well, women seem to be more on the receiving end.On May 24, 2023 news broke that a woman who was receiving support from the Botswana Gender-Based Violence Prevention Centre in Gaborone, was...

Have a Story? Send Us a tip
arrow up