The history of banking in this country cannot be written in the exclusion of Standard Chartered Bank, a financial institution that has the longest history here than any other. It was in the year 1897 when Bechuanaland officially had anything in the resemblance of a bank, and it was Standard Chartered Bank that first came to settle here.The country at the time was a barren land devoid of anything in the image of infrastructural development. In fact the bank was attracted to the country by the construction of the railway line that was proceeding towards Salisbury (now Harare).
The rail line between Mafikeng and Bulawayo was officially completed in the year 1897 and this was a great opportunity for a few businesses to take root in the country.It is interesting that Standard Bank as it was known at the time took that opportunity to open an agency here in 1897. It took a while before the agency could be promoted to a full branch in 1956 at Lobatse (known at the time as Lebatse by the locals and Lobatsi by the colonial masters).
Lobatse was a promising growing urban development. The beef abattoir was attracted to the centre by the railway itself and a few years earlier King George had chosen this town as his major rendezvous as he flew to this part of the world to thank the natives for their sacrificial involvement in WW2.This was an ideal place for the bank as it was also the home of the country’s judiciary where the High Court was placed. Lobatse was destined to become the capital of the country with the national broadcaster coming to settle here where its staff enjoyed the services of the only bank and branch in the country.
Quett Ketumile Masire in his memoirs acknowledges this to have been his bank even before he entered politics. As an African commercial farmer, Masire used Lobatse principally for banking and as a logistics hub where he connected with the rail head to transport his produce to Kimberly. The bank later grew and had branches at places such as Gaborone, Mahalapye and Francistown. This is a bank immensely full of history. While I attended a motor show in Cape Town in 2002, I came across a vintage motor car which was said to have been driven by the first branch manager at the Mahalapye branch. I wish the bank could trace this vehicle and take it as part of its museum inventory.
Certainly the bank was seemingly connected to the new independent Botswana through an un-breakable umbilical cord. The bank went on to expand its business in the country as economic opportunities were growing in the country. The bank was serving the mining industry, the civil service, business and the entire farming community at commercial and subsistence levels.
My first interaction with the bank was in 1979 as a young primary school going pupil. While we waited for Queen Elizabeth to arrive during her official visit to Botswana, as children we were used as mascots at the Gaborone Show Grounds in the welcome of the Queen of England. We were rewarded by the bank with blue plastic piggy banks. It was from this moment going forward that I felt the connection with the bank as a thirteen year old. The relationship almost on silent mode was resuscitated at the time when I had to consciously make a choice of a bank as young commissioned officer at Botswana Defence Force.
I joined the military at the age of twenty-four and a lot younger fellows who joined as minors were looking for direction from me on the choice of a bank. So I opened a bank account at the bank’s Main Mall branch with a host of followers whom one of the bank tellers referred to as my disciples. Since 1979 to date I have remained a loyal customer to the oldest bank in Botswana. My greatest commitment to this financial institution is not derived from the services they offer, but as a student of history, my attachment is hinged on their past participation in the role of nation building. Of course their motives were primarily driven by business, but in the overall they risked their business reputation to come and do business in a desolate land.
I am now retired and have sold my passion to farming. Last week as I entered King Sechele’s capital of Molepolole, I was dismayed by what came to my attention as I had come from Sekhukhwane Wells to cash a small cheque for my fortnightly stipend in the countryside. The only branch that served Bakwena so well with only three teller booths was gone. Going into the bank’s website, they say that they have seventeen branches around the country. They must quickly update and bring it to the world’s attention that they have knocked off their only branch out of Africa’s biggest village.
According to the records as supplied by Statistics Botswana, Molepolole had a huge population of 73 102 as in the census of 2011. Why on earth would someone make a conscious business decision to close a branch that has a potential to serve such a large population? Something doesn’t add up here!The bank is currently led by a vibrant Chief Executive Officer in the name of Mpho Masupe, a middle aged man armed with the right qualifications and experience in the industry. The bank has equally capable managers such as Bame Ketshotseng, one of the people who has served the bank from the days of my youth as a Second Lieutenant at BDF.
I therefore appeal to such individuals with sound minds to bring back the branch to the Kweneng capital before the end of the year. If the branch was not helping the business of the bank, it will in the not so distant future as there are several development projects in Kweneng with the expansion of the airbase and the mining activities in Medie Coal Mine. The bank should rather be thinking of relocating to the new Ntsweng business development instead of shutting down and leaving great business opportunities.