First National Bank of Botswana (FNBB), the country’s most innovative commercial bank, entered into a deal with Pick ‘n Pay aimed at bringing the bank to the people and, at the same time, strengthening citizen economic empowerment drive.
Pick ‘n Pay, the South African chain-store, has wings spreading across the African continent and Australia and has embarked on a plan of re-branding the former Score Stores in the country after it had acquired them.
Score Stores are 16 in number in Botswana, however, Pick ‘n Pay has decided to sell two that it considered to be not properly positioned. According to the agreement between the two parties, FNBB will have a kiosk in the outlets where customers will be able to transact their banking businesses.
The banking services that would be available at the stores include general enquiries, loan application facilities, bank card collection and will also have an FNBB Auto Teller Machine (ATM). That will bring the total number of FNBB’s ATM machines to 88 across the country.
Further, FNBB is expected to assist young upcoming Batswana entrepreneurs with capital while Pick ‘n Pay will be in charge of training and mentoring process. This is another initiative by FNBB to uplift the budding young entrepreneurs following the launch of Itsose last year.
“This is going to be about a year and half,” Mahesh Patel of Pick’n Pay Botswana, said about the roll-out plan.
The roll-out plan started with the re-branding of the Lobatse outlet this week , which is expected to be closely followed by the one at Southring Mall in Gaborone before opening the Francistown store.
According to Patel, the new Pick ‘n Pay outlets are expected to push for local procurement of agricultural products in a bid to support economic empowerment initiatives.
“The Pick’n Pay outlets will support local procurement in an attempt to support local farmers,” he said.
The new initiative is copied from South Africa where it is reported to be successful.
Pick ‘n Pay said it is looking at new sitesÔÇöin its attempt to increase its foot-print across the country ÔÇô where “we feel our brand will be very strong. The aim is to improve access of up-market stores to local people.“