The Vice President, Slumber Tsogwane has implored the private sector to contribute more towards economic growth.
Quoting from President Masisi’s 1st April 2018 inauguration speech where the first citizen called for a ‘strengthened, consolidated and intensified partnership between the government and the private sector,’ the Vice President noted that it is the Government’s desire to see the private sector taking the reins in creating suitable economic growth and jobs for the nation.
Tsogwane was delivering a keynote address during the official opening of the First National Bank of Botswana (FNBB) Premium Suite in Orapa recently.
He appealed to commercial banks and financial institutions to orient their balance sheets away from household debt and move towards business lending and other forms of debt which can sustainably grow the economy.
“There needs to be an appetite for, and understanding of the unique needs and challenges of small businesses, and the youth,” he cautioned, talking of the re-balancing of the financial institution’s remodeling of their business strategies.
He also emphasized that particular attention should be paid to sectors such as diamond beneficiation, tourism, beef production, agriculture, mining as well as the financial services.
“It is important that commercial banks like FNBB be willing to partner with Government Development Financing Institutions such as National Development Bank (NDB), Botswana Development Corporation (BDC) and the Citizen Economic Development Agency (CEDA),” he said, continuing that such partnerships would create jobs and foster an environment for economic diversification.
For his part FNBB Chief Executive Officer, Steven Bogatsu said the Orapa Premium Suite offers the Bank’s Private and Premier clients a variety of unique banking services among them, the Investments & Advisory Services.
“These are specialized services that help clients diversify their investments vehicles in alignment with their future needs,” Bogatsu said.
The CEO further said the Bank has invested in its Premier Bankers to service customers at the Premium suite by enrolling them in an 8-month intensive learning programme through the FNB Premium Academy.
He further explained that the Academy is a series of learning modules designed to equip the bankers with an understanding of various subjects such as Risk Management, Wealth & Investment Management, Financial Planning, Reading and Analyzing Financial Statement and Balance Sheets, amongst other requirements to assist the premier clients.
“In this regard, we are confident that in your banker, is a financial partner who is able to manage clients’ portfolios and ensure that solutions continually meet customer’s needs as well as exceed their expectations in terms of speed, efficiency, advice, and professionalism,” Bogatsu noted.