Wednesday, June 12, 2024

Banc ABC opens branch in Francistown

The Group Chief Executive Officer for Banc ABC, Douglas Munatsi, is upbeat that his bank continues to be the best mortgage lender in the country through its 100 percent mortgage facility, the first of its kind in Botswana. He said this during the opening of the Francistown branch on Friday.

Munatsi told his audience that his bank was the first to launch the product last October.

“Through this product, we are able to finance up to 100 percent of the market value of a property, specifically designed for individuals to enable them to purchase residential properties. The number of loans we have to date are 269 at a value of P185 million. We have led the market in this initiative, which has now become market standard and this aligns directly with the national vision of empowering individuals to own their own property,” he said.

Munatsi pointed out that, in 2012, they were again market leaders for being the first to launch the VISA Chip and pin Debit, Credit and Prepaid Cards such as prepaid Cash and prepaid Travel Cards. He said that they have issued over 9500 prepaid cards already and over 13 000 VISA debit cards so far in Botswana.

He added that Banc ABC is also committed to supporting the SME business with appropriate business processes, structures and products and services to motivate SME’s to build sustainable and profitable businesses.

“As proof of our commitment to business growth, we successfully completed over P350 million Rights Issue. The Rights Issue represents one of the largest issuances of listed equity instruments on the Botswana Stock Exchange (BSE) this year and the largest in the recent years,” he said.

Munatsi added that the capital raised will be deployed to all the banking subsidiaries for their capitalization signifying their pledge to the economy of Botswana as well as the SADC economies they operate in.

He pointed out that the key objective of Banc ABC is to build strategic partnerships and added that they have joined partnerships with Orange Botswana as the secondary sponsor of the national team, “The Zebras”, to the tune of P8.3 million over a three year period.


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