Stanbic Bank Botswana continues to reaffirm commitment towards driving enhanced financial literacy and financial inclusion across Botswana. This commitment continues to grow, as Stanbic Bank joins other members of the Bankers Association of Botswana (BAB) and the Botswana Institute of Bankers (BIOB) to bring the inaugural Banking and Wealth Expo 2017 to life in Gaborone from November 15 to 18, 2017.
The Bank has already earned a strong reputation for sustainable investment and impact in this space, working to ensure an informed and educated nation, with a firm grasp of money matters. Stanbic Bank believes in the importance of financial inclusion is an enabler and accelerator of economic growth, job creation and development. Investment in this space has the potential to advance the national economy, and Batswana to truly move forward.
“We are excited to see this project, championed by Bankers Association of Botswana (BAB) and the Botswana Institute of Bankers (BIOB), as a true demonstration of how those in the banking sector can work together to support Government’s priorities in advancing our Nation and her people. Financial literacy and inclusion are a long-term, never ending investment. Our work is simply never done, and we need to continue to find new ways to help bring us closer towards our collective ambition of a financially sound, educated and savvy populace.” said Stanbic Bank Botswana Chief Executive, Mr. Leina Gabaraane.
It is stated that, globally, more than 2 billion adults are excluded from the formal financial system. Indeed, per a 2015 Botswana financial inclusion survey, more than 20% of Botswana’s adult population is considered to be financially excluded, with the level of exclusion in rural areas found to be in excess of 30%. Stanbic Bank supports the BAB and BIOB belief that affordable access to and use of financial services helps families and small business owners to generate income and manage irregular cash flows, as well as to invest in emerging opportunities. Moreover, a greater understanding and appreciation of economic matters through educational platforms as the Expo helps strengthen resilience to economic downturns and empower people to work their way out of poverty.
Banking and Wealth Expo, which will be freely open to the public is intended to expose the public to the vast scope of banking and financial services. The theme for the four-day event will be, “Bridging the Inclusion Gap through Financial Literacy.
It aims to avail a rare opportunity for the public to seek financial information and advice that will enable them to make informed financial decisions and to better understand how they can use money and financial services towards improving their future livelihoods.
The Expo will also feature many networking sessions intended to impart financial awareness, knowledge and skills to various publics including school children, allowing kids to discover money and business through play and a collection of fun interactive, multi-media minds-on and hands-on activities.
Said Bankers Association of Botswana, Ms. Linah Sekwababe, “The public will, for the first time ever, have an opportunity to interact with a broad array of banks and other financial service providers under one roof. On the supply side, the Expo will provide a platform for financial agents to demonstrate their innovative financial products, services and delivery channels.” Further, the Expo will also provide an opportunity for policy makers and regulators to gauge or detect gaps in service provisioning and regulatory enablement.
Stanbic Bank’s passion for driving financial literacy is inherent in the very DNA of the business. Past investments in this space include but are not limited to: radio shows for entrepreneurs and individuals – Better Business, More Lebotha and Better Your Lebotha; a number of financial literacy focused workshops and engagements; and development and dissemination of financial literacy modules for young academics.
“We are committed to ensuring financial literacy efforts have great impact and long-term results. We are excited therefore to work with our fellow banking institutions through BAB and BIOB to ensure yet another platform to drive the message that financial literacy is paramount towards our national development,” concluded Mr. Gabaraane.