Standard Chartered Bank Botswana this week launched its strengthened SME offerings aimed at meeting the changing needs of the fast-growing small and medium sized enterprises (SMEs) segment in the country while reinforcing its brand promise of ‘Here for good’.
With over 115 years in Botswana, Standard Chartered says it has an unrivalled knowledge of the local banking sector band adds that the contribution of SMEs to the development and future of Botswana is significant.
Drawing on a deep pool of global experience, Standard Chartered says it is well positioned to assist Botswana’s SME sector with an intuitive and innovative service offering.
Duncan Woods, Head, Consumer Banking, Botswana highlighted the importance of SMEs to the economy in Botswana.
“In 2010 SMEs contributed 42% to the GDP and are growing every day into being the backbone of our economy.
Therefore it is critical for the banking sector to support the needs of SMEs.
Standard Chartered Bank currently provides an innovative and convenient range of products to nearly nine thousand SMEs in Botswana.
Shorter account opening times, where business owners can have quick account activation with an instant cheque book; By making banking simpler for our customers, dedicated SME service desks at key branches for tailored one stop banking; access to a dedicated SME call centre; are just some of the innovations that make banking simpler for SMEs.
We make it better for their business.”
Tim Hinton, Global Head, SME Banking, Standard Chartered Bank further confirmed the role of SMEs at global level: “The SME segment has grown at almost twice the rate of GDP in most markets, and is expected to grow at 10-12 per cent annually across our footprint in Asia, Africa and the Middle East.
In light of the changing needs of SMEs and their growing importance in the economy, we have strengthened our SME customer offerings.
Our ambition is to be the leading international bank for SMEs, building the segment into a multi-billion dollar business over the next two to three years.”
This strategy is underpinned by focusing on customers’ needs, and investing in the right people, solutions, and infrastructure.
SMEs can now access comprehensive and customized solutions that traditionally were limited to multinational corporations.
In order to better understand the needs our SMEcustomers, the bank says it provides dedicated relationship managers supported by a team of specialists.
This, they say, allows Standard Chartered to provide holistic solutions in the areas of working capital, business expansion, business protection, and yield enhancement.