Stanbic Bank Botswana says its Foreign Exchange (FX) offering in the Global Markets business unit has grown as it continues to offer interest rate and currency risk management services.
Recently, Stanbic Bank was named best Foreign Exchange provider for the 4th consecutive year. In an interview with Sunday Standard, Stanbic Bank Botswana Head of Global Markets, Sentsho Tselayakgosi, said the bank aspires to be the go-to bank for foreign exchange products, to partner with their clients in realising their growth ambitions in, for and across Africa.
“We are the largest bank in Africa by assets and deliver a universal bank with a strong focus on Africa. Our purpose within Corporate and Investment Banking (CIB) is to drive Africa’s growth,” said Tselayakgosi.
He pointed out that the Bank is mainly focused on six core sectors; namely: oil and gas, telecoms and media, mining and metals, consumer sector, non-bank financial institutions, and power and infrastructure. He added that they have the people, skills and expertise to deliver to the clients in the sectors.
In reference to the recent award, Tselayakgosi said exposure plays a large role when it comes to the accolade from a renowned body as Global Finance. He said it also allows them to further cement existing stakeholder relationships as well as make new ones. “Though this is a mark of recognition, we constantly work to better ourselves further, and embrace the challenge to do more and be more. This award is a reassurance, nonetheless, that we are headed in the right direction,” said Tselayakgosi.
He assumed that all local banks and their group representatives in Africa were equally assessed as the results also refer to his Group offices getting awards in some countries in Africa. “We cannot, however, speak for the organisers, Global Finance”.
In reference to Global Markets services, Tselayakgosi said Stanbic provides financial risk management solutions across all asset classes or risk classes as well as structured products. He said foreign exchange offering entails services in cash, spot, forward contracts and currency options. He added that they also provide 24hr FX dealing accessibility via South Africa, New York and London. He believes that the bank has dedicated FX market experts responsible for client coverage as well as dedicated dealers to facilitate deal execution.
“We have demonstrated the ability to execute large value FX trades for our Corporates clients, in close relationship with our reserve bank and we can confidently say we have a firm understanding and experience of the local market,” he stated.
Tselayakgosi expressed a degree of satisfaction at the way the bank was performing. He reiterated that Foreign Exchange Product offerings from Stanbic Bank Botswana form a key part of their offering and an important part of their strategy, adding that they will continue to do their utmost to ensure they offer only the best to their stakeholders.