Friday, October 30, 2020

Fear of job losses as Stanchart integrates business structures

Standard Chartered Botswana employees are keeping their fingers crossed that they are not shown the door following the parent company’s announcement of reorganisation of key divisions late last week.

According to a statement from the London headquartered bank, the Group’s two divisions, Wholesale and Consumer Banking businesses, will be integrated to form one business, organised into three customer segment groups and serviced by five global products.

As the beginning of this month the Group also implemented a simplified structure of eight geographic regions to enable greater efficiency and effectiveness.

The Group’s global support and control functions have already been reconfigured to align to the new regional structure and will undergo further change in response to the reorganisation of the business.

Standard Chartered Bank Botswana (SCBB) Head of Corporate Affairs, Itumeleng Ramsden, however, downplayed any chances of job losses as a result of the pending exercise.

┬á“Should there be any impact on Standard Chartered Bank Botswana Limited, we will communicate to all stakeholders,” said Ramsden in a brief interview.

The bank said that the reorganisation and the appointments will come into effect at the beginning of April this year and is expected to have limited impact on staff.

The Moatlhodi Lekaukau led bank strengthened its customer offering for SME Clients in 2013 with a new customer value proposition built around working capital, business expansion, business protection and yield enhancement.

The bank’s Head of Consumer Banking is Duncan Woods whose focus areas concentrated on including building stronger relationships with clients and customers by creating deeper, more resilient and economically sustainable relations whilst ensuring the best service delivery.

The bank has also a rich heritage both in Botswana and globally, with over 150 years in existence and has been leveraging on the strong global brand and intensifying collaboration across the network.

A look into the bank’s performance at the local capital markets shows that its share price grew by 17 percent in 2013. The bank’s market capitalization also grew from P2.9 billion to P3.5 billion.

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