Monday, May 27, 2024

Banks lagging behind in localization programmes

Members of Parliament have expressed displeasure at an answer by Assistant Minister of Labour, Gaotlhaetse Matlhabaphiri, that almost ten years on, Stanbic Bank Botswana still does not have a training and localization programme.

Answering a question in parliament, Matlhabaphiri said, compared to the Bank of Baroda, Stanbic was well ahead in localization since it had seven citizens in senior management positions, with non Batswana holding six.

Matlhabaphiri said he expected the position of country Managing Director at Stanbic Bank Botswana to be localized in eighteen months.
But still MPs were not amused saying something had to be done faster.

Stanbic Bank Botswana has in the past also come under pressure for not listing with the Botswana Stock Exchange to allow Batswana to buy into it.
Stanbic, a division of the large South African Standard Bank, is among the top four banks in Botswana.

All the other three are listed with the local bourse.
“For a bank that is relatively new, I am satisfied with progress made,” said Matlhabaphiri.

He said he expects the most senior Motswana at the bank to move into a position of understudying the current Managing Director as preparations for taking over.

There has also been general disquiet recently expressed by the Central Bank at Standard Chartered Bank Botswana’s failure to localize its top most position.

The Central Bank went as far as to delay the appointment of a new expatriate MD, as a way of expressing displeasure with Standard Chartered’s failure to localize the top most position.

Although Barclays Bank Botswana has, over the last few years, localised the position of Managing director, there have been grumblings that such a position does not enjoy substantive executive powers as important decisions regarding the bank’s operations are still made in London., or, in some cases, the London office seconds officers to Botswana but who enjoy more executive powers than locals at the bank.


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