BSB TO DISBURSE SOCIAL BENEFITS GRANTS

As more efforts to cater for the unbanked are rolled out, Botswana Savings Bank (BSB) has been awarded a contract to disburse social benefits for people with disability, destitute, old Age Pensioners, World War II and Veterans. The BSB Head of Marketing and Corporate Affairs, Bomolemo Selaledi said the facility will create a lot of convenience and security for the clients with no charge on maintenance fee. “The use of the Visa debit cards allows the beneficiaries the flexibility and access to their cash at any BSB ATM or any Visa compliant ATM country-wide,” said Selaledi.

She said the partnership reinforces the bank’s financial inclusion mandate and outreach strategy aimed at providing consumers with simple and easy access to financial education. “It (contract) has advanced BSB in achieving its financial inclusion mandate as it is partial fulfilment of the strategy and commitment to bank the unbanked population,” said Selaledi, explaining that BSB has a mandate to provide affordable financial services to the nation and most importantly take a lead in financial inclusion.

The BSB 2016-2021 strategy indicates intentions to provide products for all income groups, coupled with intensified efforts to expand customer base. “BSB understands the needs of the citizens of this country and the Bank is excited to partner with the Ministry to make a positive change in the lives of Batswana,” said Selaledi.

In addition, the development is in line with national priorities to enhance financial inclusion in Botswana. “At BSB we adamantly believe that financial inclusion can aid national growth and impact people’s welfare, primarily in areas that have limited access to banking services, which is what the Bank will achieve through this collaboration,” added BSB’s Chief Executive Officer, Nixon Marumoloa.

According to the bank, the year- long contract will cover towns and villages which include Mahalapye, Palapye, Serowe, Gaborone, Gabane, Tlokweng, Mogoditshane, Mochudi, Ramotswa, Lobatse, Kanye, Moshopa, Molepolole and Goodhope.