Monday, December 6, 2021

Stan Chart localizes executive management

Standard Chartered Bank Botswana (SCBB) last week revealed that it has managed to reach the set target for localising its frontline executive management.

Stan Chart Chief Executive Officer┬á(CEO) Moatlhodi Lekaukau revealed in an interview that when he assumed office three years back the bank’s executive management was made up of half locals and half expatriates.

“When I came in there were no locals serving in the businesses and other front line sections. Now we have achieved localization of key functions. While we were previously 50 percent localized, we currently 90% of sitting managers as citizens,” he said.

He explained that the bank managed to meet its target after putting in motion an elaborate plan, which had the added benefit of improving the bank’s performance.

“We picked up performance under the leadership of the new executive team. Stan Chart has a rich heritage both in Botswana and globally, with over 150 years in existence. Leveraging on this strong global brand and intensifying collaboration across the network, we are able to offer our customers world class capabilities as well as provide them with better solutions in anticipation of their needs and market trends,” said Lekaukau.

Other members of the executive team include Chief Financial Officer (CFO) Mpho Masupe, Head of Commercial Clients Kesego Mokgetse┬áand Head of Retail Clients┬áPedzani Tafa. Peggy Tsiane serves as Head of Transaction Banking, Botho Leburu as Head of Financial Markets and Marina Rehmat Khan as Country Head-Operational Risk. The SCBB Chief Information Officer is John Kimani, while┬áthe Head┬áof┬áCorporate and Institutional Clients (Acting) is Benson Madisa. Ali Zayem is SCBB’s Head of Wealth Management; Mmama Mhlanga-Fichani Head of Human Resources while Ernest Kelapile is Acting Head of Audit. Esther Mokgatlhe has been appointed Company Secretary and Head of Legal and Compliance while Tumie Ramsden serves as Head of Corporate Affairs.

Speaking at an event hosted by one of the local banks recently, Bank of Botswana (BoB) Governor, Linah Mohohlo warned that the deployment of Batswana and staff from other nationalities, afforded by the regional branding of local commercial banks, should not be used to marginalize Batswana from serving in the banks’ board and senior management positions.

“This is not a matter of national pride; it is a matter of business efficiency. You will agree that 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 further said the Reserve Bank expects local boards to be empowered to align group policies to Botswana’s business environment and market conditions, without compromising sound banking practice and profitability. Meanwhile Stan Chart revealed that it is running a campaign geared at encouraging long term saving for both individual and business clients.

With the drop in lending and deposit rates, customers might feel inclined to get loans as opposed to saving, hence the SCBB campaign.

“This is therefore a limited time opportunity that the bank is giving its customers to ensure that their money also yields attractive returns; upholding our brand promise to be ‘here for good’,” said Head of Corporate Affairs Itumelng Ramsden.

She further explained that because the ordinary customer does not have negotiating power and often just gets the board rate, the bank found it fit to offer a “negotiated rate” to the customer.

“We want customers to enjoy high interests on their deposits,” she said.

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