Following BancABC’ second listing on the Botswana Stock Exchange Limited (BSEL) late last year, Voice Money caught up with the bank’s Country Head-Retail Banking, Grace Setlhare-Mankanku to find out what is next for the commercial bank.
Q. BancABC recently opened 2 Sales and Service Centres in Molepolole and Kanye with two more set to be opened in Ghanzi and Letlhakane before end of March, what is the progress on this?
A. Following its previous listing on the Botswana Stock Exchange Limited in December 2018, BancABC has widened its product and service offerings to broader Botswana by opening two Sales and Service Centres in Molepolole and Kanye on 6th March 2019.
This was swiftly followed up with the opening of two additional Sales and Service Centres in Ghanzi and Letlhakane on 15th March 2019.
Q. How many ATMs does the bank have and what are the future plans regarding the increase of ATMs across the country?
A. We are dedicated to transforming our bank and improving on the customer experience as a result, we are planning to substantially extend our digital channels including augmenting our ATM network from the current fifteen (15) that we have countrywide.
Q. Other than the four newly added Sales and Service Centres what are the plans to further broaden the Bank’s foot print?
A. The Bank is focused on enhancing its product and service offering by broadening client access on digital platforms such mobile banking and internet banking channels for both Retail and Business customers.
Q. The bank is now listed and this means BancABC has become an ‘official competitor’ in the local financial services industry, how much of the market does BancABC and what immediate plans are in place to inch you closer to top position?
A. As a challenger brand, BancABC has secured its position as Botswana’s fourth most profitable bank.
Further to its pledge to increase its footprint, the Bank has made a commitment to investors and customers following the BSE listing, to improving its IT infrastructure.
As a result, and in continued efforts to improve on customer experience, BancABC in late 2018, underwent a core banking system upgrade, which was then closely followed by a card platform migration which was completed in February 2019.
Q. What security measures are in place at the Bank to ensure security of your customers’ money?
A. The Bank has stringent procedures and sufficient controls with regards to customers’ accounts.
We have well established systems and processes to ensure our compliance with sufficient standards of governance.
Q. What other services are you looking to tackle as way to improve the overall customer experience?
A. We started the year delivering on significant promises made to our key stakeholders.
Our customers desired more reliable services and closer proximity to our banking services and that’s what we’ve done.
The Bank made a commitment to investors and customers following the BSE listing, to direct some funds towards improving its IT infrastructure.
The changes to the IT Infrastructure will go a long way in enhancing our service and the Sales and Service Centres are a proof point that we are bringing the bank closer to them.
This is a testament to our being on the right track in fulfilling a critical element of our strategy.