Botswana Savings Bank (BSB) plans to roll out Automated Teller Machines (ATMs) to several villages and towns in its drive to reach more customers and make banking services more accessible.
The state savings owned bank would launch its eighth ATM today in Kang. The launch follows recent launches in other villages and towns across Botswana, including Letlhakeng, Serowe and Francistown. BSB Chief Executive Officer, Nixon Marumoloa said the provision of financial services in areas where the bank is not physically represented is core to BSB strategy.
“The bank is continuously exploring ways to put in place distribution channels for the delivery of financial services in Botswana as a way of extending its outreach and maximizing its brand visibility,” said Marumoloa. He explained that all ATMs are VISA compliant and as a result the ATM will not only service BSB clients but other banks’ clients will also be able to transact.
Last year the Ministry of Transport and Communications formed Botswana Postal and Savings Group (BPSG) company whereby all shares in Botswana Postal Services and Botswana Savings Bank following conversion from statutory entities to public limited companies under the Companies Act, would be held as the 100 percent shareholder.
This was followed by a directive to amalgamate Botswana Post and Botswana Couriers and Logistics into a single entity. The Directive also instructed that BSB be transferred back to Ministry of Finance and Economic Development (MFED). BSB will now partner with the amalgamated entity, BPSL to provide financial inclusion to communities that are unbanked. This will lead to the dissolution of the holding company, BPSG.