FNBB Reboots Wealth Management Services

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The squeeze on net interest margins has compelled the First National Bank of Botswana (FNBB) to replace lost revenues with non-interest income from wealth management.

Wealth management is a high-level professional service that combines financial or investment advice, accounting or tax services, retirement planning and legal or estate planning for one fee.

Waziba Pansiri, a wealth manager at FNBB, said wealth advisory is an important support arm of the private bankers at the bank’s private clients.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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