BancABC opens branch in Maun

Boniface Keakabetse | Tuesday November 19, 2013 15:26

 

At the official opening of BancABC Maun branch recently, Moremi said the bank would enter into partnerships that will benefit the local communities. She said that Maun is set to benefit from BancABC initiatives and plans for the future with the opening of the branch. 

'The opening of this branch will reach beyond the 16 people employed here. It will benefit their families, the community at large and the town of Maun,' Moremi said.

BancABC is the sixth bank to set-up in Maun.

Moremi stated that BancABC's 'Fresh Thinking - Smart Banking' concept has brought changes in the banking sector that have benefited Batswana.

She stated that the bank has helped previously disadvantaged Batswana to own homes through its pioneering 100% housing finance. BancABC became the first bank in Botswana in October 2011 to offer such a facility.

The bank also launched the Visa Chip and pin debit, credit and prepaid cards.

BancABC managing director, Jitto Kurian said in Maun during the branch opening that their long-term vision is to become a preferred banking partner in Africa by offering world-class financial solutions. He said the bank's emerging African brand is growing as they continue to expend their retail footprint in all the five countries they operate; Botswana, Mozambique, Tanzania, Zambia and Zimbabwe.

He said locally, the bank has been in existence since 1989. It started as a leasing business and transformed into a merchant bank.  Kurian stated that the bank spread its wings to retail banking in July 2010 and has since achieved a rapid growth and now boasts of a footprint of nine branches around the country.

The bank has branches in Gaborone, Francistown, and Maun and recently opened in Palapye and Selebi-Phikwe. Kurian said the bank has partnered with Botswana Insurance Limited on their life rewards card and has another partnership with Orange Botswana for the Orange Money Debit card.

He said this is the first time in Botswana that an insurance company and a cell phone firm have partnered with a bank. tourism sector.