ABC Hold­ings re­lo­cates Jo’burg of­fice to Botswana

Chronicle (Zimbabwe) - - Business - Busi­ness Reporter

ABC Hold­ings (ABCH), the par­ent com­pany of a num­ber of sub-Sa­ha­ran Africa banks op­er­at­ing un­der the BancABC flag­ship, has an­nounced that it will be re­lo­cat­ing its Johannesburg of­fice to Botswana.

In a state­ment, ABC Hold­ings said the re­lo­ca­tion was as a re­sult of their com­pli­ance to a long stand­ing com­mit­ment to Botswana au­thor­i­ties.

“This of­fice re­lo­ca­tion is to com­ply with the re­quire­ments of the Botswana In­vest­ment and Trade Cen­tre (BITC). The re­lo­ca­tion of the ABCH of­fice to Botswana is a purely ad­min­is­tra­tive mat­ter that will have no im­pact on any cus­tomers of the BancABC op­er­at­ing coun­tries, or on coun­ter­par­ties of ABCH.

“We will con­tinue to de­liver un­in­ter­rupted ser­vice to our cus­tomers, and ABCH will con­tinue to meet its obli­ga­tions to its coun­ter­par­ties and ser­vice providers,” it said.

ABCH is reg­is­tered in Botswana and reg­u­lated by the Re­serve Bank of Zim­babwe and the Bank of Botswana.

The group also has oper­a­tions in Tan­za­nia, Zam­bia and Mozam­bique.

At the time of its reg­is­tra­tion in Botswana, ABCH ob­tained a Botswana In­ter­na­tional Fi­nan­cial Ser­vices Cen­tre, now known as BITC cer­ti­fi­ca­tion.

As a re­sult of the re­lo­ca­tion, the group’s of­fice in Johannesburg would be closed by the end of March 2017.

“As part of this process, se­nior man­age­ment roles will be re­lo­cated to Botswana. As a re­sult, sup­port roles will be re­lo­cated to BancABC op­er­at­ing coun­tries, while some roles will be­come re­dun­dant. Con­se­quently, in ac­cor­dance with South Africa’s Sec­tion 189 of the Labour Re­la­tions Act, the com­pany en­vis­ages em­bark­ing on a re­trench­ment process,” said ABCH.

It said the re­lo­ca­tion of the of­fice in Johannesburg to Botswana would also have a pos­i­tive ef­fect for BancABC op­er­at­ing coun­tries.

“By re­lo­cat­ing the roles in the Johannesburg of­fice to the group’s op­er­at­ing coun­tries, sub­stan­tially all our em­ploy­ees will be closer to our most im­por­tant and valu­able as­set, our cus­tomers.

“In ad­di­tion, this re­lo­ca­tion will pro­vide op­por­tu­ni­ties to cre­ate new jobs and fur­ther skills de­vel­op­ment in the BancABC op­er­at­ing coun­tries.”

The group said the clo­sure of the Johannesburg of­fice would also make it more ef­fi­cient by plac­ing se­nior man­age­ment and sup­port roles closer to cus­tomers in coun­tries of oper­a­tion thus en­abling more in­vest­ment and en­hanc­ing cus­tomer ex­pe­ri­ence.

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