Banking sector competition nears fever pitch

Barclays Bank Botswana chairman Rizwan Desai
Barclays Bank Botswana chairman Rizwan Desai

Barclays Bank Botswana chairman Rizwan Desai says greater spending caution by consumers, the proliferation of alternative lending institutions as well as the need to innovate in order to survive have heightened competition in the commercial banking sector.

While for nearly 30 years into the early 1980s, Botswana had only two commercial banks - Barclays and Standard Chartered - today the local sector has 10 aggressive players targeting various market strata.

In addition, major microlenders, such as Letshego and Blue, have emerged over the years to further eat away at the market, while the country’s three statutory banks are at varying levels of commercialisation.

Editor's Comment
We should care more for our infrastructure, road safety

These roads, which are vital conduits for trade and tourism, have long been in dire need of repair. However, while this development is undoubtedly a positive step, it also raises questions about broader issues of infrastructural management and road safety that deserve closer scrutiny.The A3 and A33 roads are not just any roads, they are critical arteries that connect Botswana to its neighbours and facilitate the movement of goods and people...

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