BSB LISTS P1 BILLION BOND WITH BSE
Monday 23rd January, 2023 marked a historic day for Botswana Savings Bank (BSB) as the government-owned financial institution listed a P1 billion bond on the Botswana Stock Exchange (BSE).
The listing was revealed this week at the BSE opening bell ceremony.
It represents a significant breakthrough for the bank, giving BSB access to capital as it will provide alternative funding and reduce their dependency on short-term, volatile deposits.
Speaking at the ceremony, BSB Board Chairperson, Goitsemang Morekisi, said the parastatal has proven itself to be a strategic, confident and dependent brand.
Morekisi acknowledged BSB’S stakeholders for their collective input in turning the P1 billion dream - which she stressed was just the beginning - into a reality.
“There has been great work, planning, time and effort put into making this bond listing possible. For this, I commend the BSB team for their efforts,” she said.
In his address, BSB Chief Executive Officer (CEO), Nixon Marumoloa, noted the bond represents the start of an exciting new era for BSB.
“The successful debut of the BSB bond issuance means the expansion of our horizons in raising capital, which ensures both means and opportunity for further growth of the organisation. More than that, it represents opportunity and a means for sustainable growth for the bank.”
He pointed out this is in line with BSB’S ‘Lesedi 2025’ strategy, which defines the bank’s long-term direction and aims to set it on the path of becoming a fully digital and financially inclusive bank.
Furthermore, Marumoloa said the listing cements the pathway towards attaining BSB’S vision to be the leading
Botswana-owned integrated financial services provider.
Marumoloa further revealed the issuance was subscribed to by a diverse institutional investor base.
“It is another testament to the ability and willingness of Batswana to get involved in matters of economic and financial progress.”
Through this capital raising approach, BSB will focus on strengthening its capital base to support lending to retail, small and medium-sized enterprises and corporates, while diversifying BSB’S product and market portfolio.