The country leading commercial bank, First National Bank Botswana (FNBB) this past week appointed Steven Bogatsu as Chief Executive Officer (CEO).
Bogatsu takes over from Lorato Boakgomo-Ntakhwana. The former FNBB Chief Financial Officer, who has been working as CEO of FNB Swaziland, finally ticked all the boxes and became the second Motswana to head FNBB.
His appointment seems to have gone smoothly as it was readily approved by Bank of Botswana Governor, Linah Mohohlo. FNBB has been under pressure to appoint a local citizen candidate as CEO, as Mohohlo has previously advised its management to localize the top post.
Speaking at a separate event last week, Mohohlo repeated the view of the Bank of Botswana that the laudable deployment of Batswana and staff from other nationalities, afforded by the regional branding of commercial banks, should not marginalize local board members and senior management.┬á
“This is not a matter of national pride; it is a matter of business efficiency.┬á Routine referrals of business decisions to headquarters in South Africa impede timely and proactive service delivery which could affect efficiency and competitiveness,” said Mohohlo.
The Governor reiterated BoB’s expectation that the local board will be empowered to align group policies to Botswana’s business environment and market conditions, without compromising sound banking practice and profitability.┬á
Bogatsu brings to FNBB a wealth of banking experience gained from his leadership positions both locally and abroad. During his tenure as FNB Swaziland CEO, the bank affirmed its position as number one in terms of profit and won several awards including the London based Banker’s Bank of the Year Award-2014. Bogatsu has held a number of senior leadership positions at FNB Botswana, among them CFO, Director of Product Houses responsible for property finance, WesBank, credit card, international trade and custody.
As FNBB CEO, Bogatsu will be tasked with the primary responsibility of growing and maintaining a focused and sustainable business across all three brands of FNB, RMB and WesBank. He will also be responsible for developing, communicating and aligning FNB Botswana’s business strategy to achieve key business deliverables while leading and managing the listed subsidiary of First Rand Bank Limited. Upon his arrival end of April, he will be responsible for developing a long term strategic direction and broad strategic framework and targets to deliver shareholder value for the group. Bogatsu will also lead the business through alignment of local strategy to global business trends in order to position the brands as differentiated and innovative entities.
Currently the FNBB Executive management consists of Grace Setlhare-Mankanku Director – Commercial Segment, Boiki Tema Director – Coverage, RMB Botswana, Richard Wright Deputy Chief Executive Officer, Boitumelo Mogopa Chief Financial Officer, Nicky van Dyk Director ÔÇô Wesbank. Other exco members are Ogone Madisa-Kgwarae Director ÔÇô Credit, Bomolemo Selaledi Director – Marketing and Communications, Yolisa Phillips-Lejowa Director ÔÇô eSolutions, Martin Knollys Director – Consumer Segment, Gaone Macholo Director – Human Resources, Pauline Motswagae Director – RMB Botswana. ┬áKgopodiso Justine Basiami-Deputy Director ÔÇôWesbank, Bongani Khulu Director – Wealth Segment and Olebile Makhupe-Treasurer.