After realigning its business, Standard Chartered Bank Botswana (SCBB) was able to address a client segment that was in the past either too large for Small Medium Enterprises (SMEs) or small to fall under Corporate and Institutional Clients (CIC). However, SCBB Head of Commercial Clients, Kesego Mokgetse said the bank has over the years built a strong SME offering and remained committed to assisting the SME business through its various products.
“Our business model is refreshed and ready to add value to our clients and we are excited to give superior service through our experienced team,” said Mokgetse.
He further explained that SCBB’s Commercial Clients division will continue serving SME clients, primarily Medium Enterprises and High Value Small Business clients. The SME division has been moved to Business Clients which is in the Retail Clients part of the bank. SCBB also offers purchase order financing to its wide array of customers ranging from small entrepreneurs to middle market companies. The service enables SCBB clients to play an integral part in the economy. Mokgetse explained that due to its ‘support role’ the bank has put in place funding requirements in order to fulfil service or product delivery to large corporates that it deals with on a daily basis.
“We have been able to assist a large number of these clients by providing trade solutions and short term loans to facilitate delivery of various products and services,” said Mokgetse.
As an international bank with a presence in emerging markets in Africa, Asia and the Middle East, the SCBB brand is trusted and therefore able to facilitate trade solutions swiftly in a cost effective manner to its clients. According to Mokgetse, the bank is able to assist clients who provide services to government by giving them finance against their government purchase orders. This alleviates lack of capital, which impedes many clients from delivering required products.
“Our differentiating factor is our trusted Global network. We have a convenient on-line banking platform that enables our clients to transact from the comfort of their office or any other place. The difference with our platform is the fact that it is on-line based and no software has to be installed in our clients’ computer,” said Mokgetse.
The bank’s convenient online banking platform has a variety of features ranging from collections, salary payment and trade solutions. One feature that stands out is the one that enables cross boarder payments to South Africa on the same day.
“With South Africa being a major trading country within the region, a lot of our clients pay their suppliers in South Africa and they need to pay on time in order to maintain good relationships with their suppliers and get good terms,” said Mokgetse.
He added that SCBB offers a Straight to Bank service, through which clients can make payments to their suppliers in South Africa on the same day so long as the transaction is done before 12 noon. The system is able to notify suppliers of successful payments, while clients can also get notifications that they can send to suppliers.
“With our seamless transition and relevant solutions at each stage, we are structured to better manage a business as it evolves through its life cycle, from a small entity until it is a big multi-national,” said Mokgetse.