Motshelo goes mainstream and grows

Barclays' Motshelo account is a crowd puller
Barclays' Motshelo account is a crowd puller

Barclays Bank Botswana launched its Motshelo product in September 2012, providing a formal banking avenue for thousands of previously unserved Batswana in the savings cooperatives. Staff Writer, MBONGENI MGUNI, catches up with the bank’s Liabilities Product Manager, Lonyalo Sefena on the progress of the uniquely Botswana offering

Mmegi: How has the Motshelo product performed in 2015 in terms of numbers of accounts and/or value of deposits?

Sefena: The Motshelo product continues to grow year-on-year as Batswana realise the importance of safeguarding their contributions as well as proper reconciliation through bank statements. More accounts were opened this year and the value of the pot has been increasing. During the first quarter of 2015, we launched ‘Boost Your Motshelo campaign’ where we saw an increase of motshelo groups taking the solution.  At the end of the campaign we had six motshelo groups winning a P5,000 boost into their motshelo account.

Editor's Comment
Watch your tongue Mr President

While his leadership has brought about significant progress and development, it is imperative that he exercises greater caution in his choice of words, particularly when addressing sensitive matters.One of the primary concerns is the potential impact of his remarks on Botswana’s relationship with De Beers, the diamond mining giant that plays a crucial role in the nation’s economy.The partnership between Botswana and De Beers has been mutually...

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