Best bank: First National Bank of Botswana
First National Bank of Botswana delivered significant improvements in financial performance last year and made good progress in digital transformation, customer retention and social responsibility.
The bank achieved a profit before tax of P1.4 billion ($104 million), marking 16.6% year-on-year growth.
Activity on the bank’s digital channels continues to increase. Around 12.5 million transactions were conducted on its mobile wallet, a 13.6% increase year on year. Approximately 87% of its clients used at least one digital channel, with 54% using its mobile app.
The bank made several significant enhancements to its internet and mobile banking platforms, including improved rewards tracking and forex trading processes. The bank also introduced a payment gateway for the Department of Road Transport and Safety, enabling clients to pay licence fees remotely.
In commercial banking, a retention desk was established to manage client attrition, resulting in the reactivation of 11,601 commercial accounts. Several products were rolled out for business customers, including a reserve account to assist new businesses not yet ready to trade and the bank’s Commercial Electronic Sales Platform to streamline account opening processes for small and medium-sized enterprises.
Social responsibility was another area of focus. Through the FNB Botswana Foundation, the bank donated P9.3 million to community projects, including P2.9 million for the Botswana Golden Grand Prix and P500,000 for the KTM Choir to support its participation in the World Choirs Competition in South Korea.
Best bank for ESG: Stanbic Bank Botswana
In 2023, Stanbic Bank Botswana worked on environmental, social and governance-linked financing for two of the country’s leading corporates, Wilderness Safaris and Norsad Capital.
The $80 million conservation loan for Wilderness Safaris, which operates luxury safari camps across eight African countries, was Standard Bank Group’s first nature conservation-linked debt facility. Wilderness Group is using the funds to continue to increase the landmass it is conserving to over six million acres. As part of the deal, the bank tracks and monitors that over 90% of Wilderness Group’s expenses are linked to its conservation efforts, which are focused on protection, education and empowerment.
The bank also arranged a R280 million ($15.2 million) sustainability-linked term loan for the impact investor Norsad Capital.
