One of the country’s leading commercial banks, First National Bank Botswana (FNBB) is in the process of recruiting a new Chief Executive Officer (CEO) because of the imminent departure of CEO Lorato Boakgomo-Ntakhwana, who was recently promoted to become Deputy CEO of FNB Africa.
Boakgomo-Ntakhwana is expected to leave FNBB in December 2014 to take up her new international role in Johannesburg, South Africa from January 2015. She was the first woman and the first Motswana to be appointed FNBB CEO. This past week, FNBB ran vacancy adverts in local media publications inviting candidates to apply to be shortlisted for the job. Within the bank, her deputy is Richard Wright who has been with FNBB for many years.
When identified, the FNBB CEO will be tasked with growing and maintaining a focused and sustainable business across all three brands of FNB, RMB and WesBank. The CEO will also be responsible for steering the development, communication and alignment of the FNB Botswana business strategy to achieve key business deliverables while leading and managing the bank’s listed subsidiary, First Rand Bank Limited. The successful candidate will be responsible for developing a long term strategic direction and broad strategic frameworks and targets to deliver shareholder value for the group. He or she will align the bank’s local strategy to global business trends in order to position the brands as differentiated and innovative entities. Also, the new FNBB CEO will be expected create and drive a people centered vision that nurtures talent and embraces the values, culture and philosophy of entrepreneurship, accountability and innovation in order to meet current and future business needs. The CEO will also enable sustainability in order to create value for stakeholders through managing ethical, transformative, environmental, and social and governance factors.
Boakgomo-Ntakhwana became FNBB CEO in 15th June, 2009 as the first woman to hold the prestigious position in a local commercial bank. She is said to have brought with her a wealth of banking experience after working for the Bank of Botswana and the South African Reserve Bank for a combined period of 17 years prior to joining South Africa’s FirstRand Group in November 2004. A close look at the FNBB 2013 annual report indicates that on the back of a positive balance sheet trend, the bank achieved income growth of 24 percent year on year on profits before tax and 23 percent growth on profits after tax. The bank’s balance sheet continues to show good increases in advances, with the year on year growth registering 23 percent to close at a book record of over P10 billion. On the back of the bank’s operating model, the network of Automated Teller Machines (ATMs) is now 136. In addition, the point of sale machines (POS) have also been increased to 5, 168.