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BancABC targets SMEs

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BancABC targets SMEs

Public listed bank, BancABC aims to play a bigger role in the Small and Medium Enterprises (SMEs) sector.

This was announced by the bank’s Managing Director, Kgotso Bannalotlhe, when giving the media an update on the organigation’s operations on Tuesday.

“We certainly want to be a much bigger SME bank going forward. I think we are well-positioned for understanding the SMEs because we have our self gone through the stage of growing,” reflected Bannalotlhe.

He noted BancABC understands the needs of SMEs and the difficulties they can encounter in accessing financing.

“In terms of the services, we want to provide for the full needs of the customers. Customers access a bank for only four real needs: they want to save or invest, borrow money, insurance services and specialized needs like trade finance and cash management,” said the MD, noting that BancABC provides all these.

From a strategy perspective, Bannalotlhe said going forward the bank will focus on driving digital and payments.

“In terms of digital banking solutions, one of the things that people don’t know is that actually, we provide more than just simple banking,” he said, explaining that the bank currently works with mobile money operators through their visa cards.

Having forged partnerships with mobile operators as well other entities, Bannalotlhe said he was hopeful more Batswana will benefit from such partnerships.

“On the commercial side of the business, it is really to grow our corporate business. We are bringing a lot of additional products in the coming years, like the point of sale services,” said Bannalotlhe.

Although it has been a tough year, the MD revealed BancABC was able to provide support to its customers.

“For us, we are not a stranger to providing relief to our customers when they are in a tight spot. One of the things that has defined us as a bank is during the public service strike, we were the only bank that was willing to support civil servants at the time by extending moratoriums on loans,” he said.

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