18 April 2020Dumelang borre le bomme. A very good evening to the Nation and our viewers.Thank you, BTV, for hosting us on this programme. Thanks, Rre Ramoroka for moderating.Let me recognise His Excellency, The President of the Republic of Botswana, Dr. Mokgweetsi Eric Keabetswe Masisi, Cabinet and all frontline staff.These are indeed unprecedented times in history of mankind. The power of social media, the impact of climate change and the rise in the frequency and intensity of disasters is becoming the norm.The COVID-19 pandemic has happened; we can only brace for it and fight to bring it under control quickly before the next disaster strikes.We cannot, as a nation and people, afford to be complacent. The fight against COVID-19 cannot be left to Government. Big corporates have a role, small businesses have a role and even private individuals have a role to play. This is a fight we can only win as a collective. There can be no heroes, as we all collaborate to minimise the impact on the most vulnerable amongst us.It is difficult to imagine anyone who has not been impacted. Schools are closed; nations are in lockdown; and everyone is adversely impacted. However, some sectors of the economy are feeling a much larger impact; specifically:The diamond value chain and mining in general;Tourism and hospitality;Automobile and logistics businesses;Real estate;Construction; andAuxiliary small businesses which have been heavily hit as a result of the impacted industries. Stanbic Bank Botswana has collaborated with the Bankers Association of Botswana to brainstorm on a systemic approach to support clients and vulnerable clients especially. We have done the following to help both staff and clients:Safety-first interventions: hygiene measures such as good old washing of hands with soap and water, provision of sanitisers, social distancing, and the increased potency and frequency of leaning services at all bank sites. We seek to keep people safe;Invoked Business Continuity plans: we are open for business and here to support clients. Less than 40% of staff are working from branches and bank sites in line with extreme social distancing protocols, and the rest are working from home. Stanbic Bank remains safe and strong;Advising clients: we are advising clients to both "go digital" and to stay home;Loan payment holiday on interest and capital, and restructuring of loans: payment holiday on interest and capital starting 1 April 2020 for a period of 3 months and for eligible Corporates, Businesses, SMEs and Individuals, and restructuring of loans;The repayment holiday means that loans will have an increase of 3 months on their tenure (duration). The repayment pricing will remain unchanged and clients will not be charged penalty interest during this time. Clients are expected to continue paying their Insurance Premium where applicable to ensure the facility and asset continue being covered. The 3 month repayment holiday is extended to clients in good financial standing with the Bank. The offer is effective 1 April 2020.For salaried individuals, the payment holiday is not automatic - it will need to be applied for. We will need confirmation from your employer on how your salary or income has been impacted.Impact here is in the form of a reduction or complete halt; retrenchment from your job; or being forced on unpaid leave.25% reduction in digital banking fees: effective 8 April, all our online platforms including Online Banking, Stanbic Bank App, Cellphone Banking, Enterprise Online and Business Online are 25% cheaper to use for a period of 3 months and reinforced by other free platforms offered;Front line staff: our staff are looking for financially distressed businesses or employees to enable the Bank to proactively engage them on how best we can support during this time. I also urge clients with whose salaries have been impacted to proactively engage the Bank;Government-backed credit guarantee scheme: this is through Botswana Export Credit Insurance (BECI) and is, for now, still a work in progress - more details will be communicated; andWe have, as Stanbic Bank Botswana, also heeded the call and donated a P1 million to the National COVID-19 Relief Fund established by Government. Additionally, we are engaging on providing critical supplies worth US$25,000 to other vulnerable groups.I commend HE and Government for taking the necessary steps to mitigate the impact on Batswana.I must also acknowledge the Governor of the Bank of Botswana, Rre Moses D. Pelaelo, for his proactive stance in extending help to the banks by way of capital preservation and liquidity support.I must give credit to my fellow CEOs and MDs of other banks for extending help to the vulnerable.I pause and ask you to join me to acknowledge the loss of life we have experienced in Botswana, with one death to date as a result of COVID-19. A single life lost to COVID-19 is one too many. I extend our heartfelt condolences to the affected family.We must, however, remain strong and look forward with optimism to fight this further. With courage, we must brace to take on this challenge as a platform to transform the Nation. All is not lost. As a nation, we are blessed to be one of the very few strong economies on the continent, with a sovereign credit rating that is still of investment grade, despite the recent downgrade by Standard & Poors to triple B positive (BBB+). Foreign Exchange reserves remain strong, with over 12 months of import cover.There is no denying that the COVID-19 pandemic and similar other global disasters that will happen in the future will place this Nation under unprecedented pressure. The call to diversify export earnings and to build a strong private-local-production base has never been stronger.Going forward, there are a few key lessons for the Nation:We have to be prepared for the next disaster. It is not an "if" but a "when" it will happen. It calls for strategic storage facilities for essential goods / commodities;We have to, as a matter of urgency, make it comparably easy for the private sector to grow domestic production capacity, diversify exports earnings from diamonds and to lead the charge for economic transformation. Government only needs to provide the infrastructure and enabling environment; andPrivate households must, as a matter of urgency, begin a culture of savings and investment for the rainy days that are certain to come. Stanbic Bank is here is help and to provide hope and we thank our staff, our customers and our stakeholders for their support and confidence in this time.Together, we can beat COVID-19. Please stay safe and continue to take care and to follow all recommended precautionary measures.Re a leboga. Pula.ENDS. For further information, go to https://www.stanbicbank.co.bw
18 April 2020Dumelang borre le bomme. A very good evening to the Nation and our viewers.Thank you, BTV, for hosting us on this programme. Thanks, Rre Ramoroka for moderating.Let me recognise His Excellency, The President of the Republic of Botswana, Dr. Mokgweetsi Eric Keabetswe Masisi, Cabinet and all frontline staff.These are indeed unprecedented times in history of mankind. The power of social media, the impact of climate change and the rise in the frequency and intensity of disasters is becoming the norm.The COVID-19 pandemic has happened; we can only brace for it and fight to bring it under control quickly before the next disaster strikes.We cannot, as a nation and people, afford to be complacent. The fight against COVID-19 cannot be left to Government. Big corporates have a role, small businesses have a role and even private individuals have a role to play. This is a fight we can only win as a collective. There can be no heroes, as we all collaborate to minimise the impact on the most vulnerable amongst us.It is difficult to imagine anyone who has not been impacted. Schools are closed; nations are in lockdown; and everyone is adversely impacted. However, some sectors of the economy are feeling a much larger impact; specifically:The diamond value chain and mining in general;Tourism and hospitality;Automobile and logistics businesses;Real estate;Construction; andAuxiliary small businesses which have been heavily hit as a result of the impacted industries. Stanbic Bank Botswana has collaborated with the Bankers Association of Botswana to brainstorm on a systemic approach to support clients and vulnerable clients especially. We have done the following to help both staff and clients:Safety-first interventions: hygiene measures such as good old washing of hands with soap and water, provision of sanitisers, social distancing, and the increased potency and frequency of leaning services at all bank sites. We seek to keep people safe;Invoked Business Continuity plans: we are open for business and here to support clients. Less than 40% of staff are working from branches and bank sites in line with extreme social distancing protocols, and the rest are working from home. Stanbic Bank remains safe and strong;Advising clients: we are advising clients to both "go digital" and to stay home;Loan payment holiday on interest and capital, and restructuring of loans: payment holiday on interest and capital starting 1 April 2020 for a period of 3 months and for eligible Corporates, Businesses, SMEs and Individuals, and restructuring of loans;The repayment holiday means that loans will have an increase of 3 months on their tenure (duration). The repayment pricing will remain unchanged and clients will not be charged penalty interest during this time. Clients are expected to continue paying their Insurance Premium where applicable to ensure the facility and asset continue being covered. The 3 month repayment holiday is extended to clients in good financial standing with the Bank. The offer is effective 1 April 2020.For salaried individuals, the payment holiday is not automatic - it will need to be applied for. We will need confirmation from your employer on how your salary or income has been impacted.Impact here is in the form of a reduction or complete halt; retrenchment from your job; or being forced on unpaid leave.25% reduction in digital banking fees: effective 8 April, all our online platforms including Online Banking, Stanbic Bank App, Cellphone Banking, Enterprise Online and Business Online are 25% cheaper to use for a period of 3 months and reinforced by other free platforms offered;Front line staff: our staff are looking for financially distressed businesses or employees to enable the Bank to proactively engage them on how best we can support during this time. I also urge clients with whose salaries have been impacted to proactively engage the Bank;Government-backed credit guarantee scheme: this is through Botswana Export Credit Insurance (BECI) and is, for now, still a work in progress - more details will be communicated; andWe have, as Stanbic Bank Botswana, also heeded the call and donated a P1 million to the National COVID-19 Relief Fund established by Government. Additionally, we are engaging on providing critical supplies worth US$25,000 to other vulnerable groups.I commend HE and Government for taking the necessary steps to mitigate the impact on Batswana.I must also acknowledge the Governor of the Bank of Botswana, Rre Moses D. Pelaelo, for his proactive stance in extending help to the banks by way of capital preservation and liquidity support.I must give credit to my fellow CEOs and MDs of other banks for extending help to the vulnerable.I pause and ask you to join me to acknowledge the loss of life we have experienced in Botswana, with one death to date as a result of COVID-19. A single life lost to COVID-19 is one too many. I extend our heartfelt condolences to the affected family.We must, however, remain strong and look forward with optimism to fight this further. With courage, we must brace to take on this challenge as a platform to transform the Nation. All is not lost. As a nation, we are blessed to be one of the very few strong economies on the continent, with a sovereign credit rating that is still of investment grade, despite the recent downgrade by Standard & Poors to triple B positive (BBB+). Foreign Exchange reserves remain strong, with over 12 months of import cover.There is no denying that the COVID-19 pandemic and similar other global disasters that will happen in the future will place this Nation under unprecedented pressure. The call to diversify export earnings and to build a strong private-local-production base has never been stronger.Going forward, there are a few key lessons for the Nation:We have to be prepared for the next disaster. It is not an "if" but a "when" it will happen. It calls for strategic storage facilities for essential goods / commodities;We have to, as a matter of urgency, make it comparably easy for the private sector to grow domestic production capacity, diversify exports earnings from diamonds and to lead the charge for economic transformation. Government only needs to provide the infrastructure and enabling environment; andPrivate households must, as a matter of urgency, begin a culture of savings and investment for the rainy days that are certain to come. Stanbic Bank is here is help and to provide hope and we thank our staff, our customers and our stakeholders for their support and confidence in this time.Together, we can beat COVID-19. Please stay safe and continue to take care and to follow all recommended precautionary measures.Re a leboga. Pula.ENDS. For further information, go to https://www.stanbicbank.co.bw