A massive continental operation for arresting HIV/AIDS spread BPC sells stake to a French company Road development affects sales Hospitality organisations urge to train e-skills Diversification tops national agenda Modern infrastructure national priority Celebrating 100 years of economic beneficiation Sparkling hospitality industry return to Harare Government’s new Acts and policies welcomed Snail pace for SADC financial integration

GABORONE – BancABC, the regional banking player with operations in five countries across Southern Africa has announced that it will vigorous expand its retail banking this year.

Listed on the Botswana Stock Exchange as ABC Holdings the bank will extensively drive opening of retail outlets in Botswana, Zambia, Zimbabwe, Mozambique and Tanzania.

Announcing the Groups financial results for the year ended December 2009 on Wednesday, the Group’s chief executive Doug Munatsi said the banks focus this year is retail banking.

“The Group will continue to grow the Wholesale Banking business and exert further effort on rolling out the Retail Banking business across all territories. We are confident that the Group now has a solid platform from which it can continue to grow,” said Munatsi.

Last year the Group managed to open retail banking branches in Harare and Dar es Salaam.

Munatsi indicated that during the year, Botswana will be among the first to open two retail branches in the country’s capital and another in the second half of the year in Francistown.

Though market analysts feel the banking industry in Botswana is saturated with too many players, Munatsi is confident his Bank will manage to penetrate the market with new innovations

“We cannot do things the way everyone has done,” he said.

Munatsi said through well thought-out customer relation the bank will manage to penetrate the Botswana market with high number of Banks.

“We have to think outside the box, that is our Botswana contribution. All our branches are to be profitable between 18 months to 24 months.”

“We are optimistic despite that we will increase retail cost. We are budgeting and expect positive growth in 2010,” he added.

Munatsi said the Bank has finished refurbishment of it new branch to be located at the new CBD, while the next branch to be opened will be at the Group’s new headquarters in Fairgrounds.

Opening of BancABC retail arm will bring the number of commercial banks in Botswana to eight and the competition bar to a stretch. BancABC has been operating in the country as a Wholesale bank only before.