​​​News​​​​​​​​​​​

Prime Lending Rate Change

Rate Change Following a decrease in the Bank rate from 4.75% to 4.25%, Bank Gaborone has reduced the Prime rate from 6.25% to 5.75% effective from 1st May 2020.
Customers are advised that all Prime linked products will be reduced by the same margin.

For more information please call our customer contact center on +267 3158681
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Click here to view the group's full response

Managing cash flow during a crisis​

The COVID-19 pandemic has caught businesses and individuals unaware, as most did not anticipate such a “black swan" event. We cannot however despair, but rather, we need to take immediate steps to ensure our survival and ultimate return to financial health.
The global COVID-19 pandemic is exacting a terr​ible human toll and it is argued that the biggest impact will be on the world economy; therefore, I would like to share some thoughts on what you can do as an individual or business to ensure that your cash flow is managed through these tough times.

Addressing cash flow issues 

  1. ​Government has announced several fiscal interventions in support of businesses and individuals such as wage subsidies and loan guarantees. Please refer to “Guideline for Botswana COVID19- Pandemic (Corona Virus) Relief Fund" which can be found on BWgovernment Facebook page. Ensure your business does not miss out on the opportunity to apply for assistance where offered. No helping hand should be ignored.

  2. You need to urgently manage your expenses and costs better. Cut where you can, revisit planned big spends and postpone where possible. Focus on core needs such as bills, food, staff salaries and internet connection and do away with as many wants as possible such as take-aways, jewelry and unnecessary staff benefits.

  3. Consider selling off some of your assets, liquidate some investments and try to generate some cash in order to support your immediate short-term cash flow needs. Although it is not the optimal time to do so, the potential “losses" suffered should be weighed against your ultimate survival and the level of your short-term cash flow needs.  

  4. ​ Engage with all stakeholders (employers, employees, property owners, etc.) to see if they are able and willing to support you with some concessions as this will once more impact your cash flow and ability to meet your revised cash flow commitments.

With regards to the above, Bank Gaborone has expressed its willingness to work with clients who are impacted and to support them with deferments and short-term loans based on individual needs assessments. The bank has also taken further steps by offering free banking on all its digital channels for the month of April and a 25% discount on the same from the 1st May 2020 until the 30th June 2020 as we believe that this will also assist you in managing your costs.

We therefore encourage our clients to engage with their respective relationship managers and branch managers to assist them in this process.

Irrespective of the above, given the assumption that this is a cash flow crisis, it is critical that you gain a detailed understanding of your cash flow over the next 12 weeks and that you use the information gained from the action steps above to compile your cash flow. Any new information should be used to update this cash flow continuously and should be shared with your banker.
In the long-term, you will need to revisit your business strategies, product and service offerings, cash flow drivers and individual skills set in order to remain relevant for the new tomorrow as the world will permanently change as a result of COVID-19.
Finally, you should accept that this process will not be painless and it will require sacrifice, it will take time to recover but you should look at it as a positive change that will better prepare you should there be another similar event.​

In the long-term, you will need to revisit your business strategies, product and service offerings, cash flow drivers and individual skills set in order to remain relevant for the new tomorrow as the world will permanently change as a result of COVID-19.
Finally, you should accept that this process will not be painless and it will require sacrifice, it will take time to recover but you should look at it as a positive change that will better prepare you should there be another similar event.​​

Click here to view the group's full response​

Bank Gaborone offers three month payment holiday and discounted fees on digital channels

Bank Gaborone is aware that these are trying times for all of us, both socially and economically. We would like to reiterate our continued support of our clients' financial wellbeing and our commitment to offering  them solutions to help minimize the impact of the pandemic on your finances.
The bank is offering the following solutions:

  1. Financial assistance and payment holidays (up to three months) to individuals and businesses, with good repayment records and whose cash flow is being negatively impacted by the current pandemic.

  2. Discounted fees on digital channels. ​

​We have decided to assist our clients' with deferments and bridging facilities in order to overcome the short-term cash flow constraints brought about by the impact of the Corona Virus. For now, we will offer a three-month deferment, and should a need arise for subsequent deferments we will be happy to consider it.
Requests for assistance will be handled on a case by case basis and urges clients to contact their branch or Relationship Manager to discuss specific needs for a tailor-made solution.

In support of the Bank's drive to reduce the possible spread of COVID-19, clients' are also encouraged to make use of the Bank's digital platforms to transact in the convenience and safety of their homes or offices. Hence, during the month of April the transactions on the Bank's digital channels will be free, and a 25% discount on fees will be implemented for the months of May and June 2020. 
With the increased uptake of digital channels, the Bank also cautions its clients and Batswana at large to be vigilant of fraudsters and opportunists when using digital and online services.
Bank Gaborone will never ask anyone to share their PIN or card details telephonically, by email or on any other social media platforms. Should our clients need to contact our digital channels team they can call 3671690 or they may call the Customer Contact Centre on 315 8681/3671554 or their branch should they encounter any challenges or require any additional information.
Please be safe. Let us all play our part in curbing the spread of COVID-19, because we are stronger as one." 

Statement by Capricorn​ Group on its response to the COVID-19 Pandemic

Capricorn Group is a regional financial services group with operations in Namibia, Botswana, Zambia and South Africa. We are very aware that as a regional group, the COVID-19 pandemic can have a severe impact on our operations if we do not proactively and responsibly manage potential and existing risks related to the outbreak. On 17 March the President of Namibia declared a National State of Emergency in response to the public health emergency created by the outbreak of the COVID-19 virus in Namibia.

The Group is continuously monitoring directives from the governments in the countries where we operate to ensure that our response plans are in line with and in support of government directives to curb the spread of the disease, such as banning and restricting gatherings, closing educational facilities and encouraging social distancing. These measures have been put in place to ensure global healthcare systems are not overwhelmed and that those who need it most can get the care they need.

Click here to view the group's full response

Financial Literacy

It is our belief that knowledge of financial matters equips individuals to make sound financial decisions. We further believe that as a financial institution we have responsibility to educate Batswana on financial matters. That is why we started the first of its kind MD&HE Charity Fun Cycle, where our Managing Director Sybrand Coetzee and some executive members rode along His Excellency The President, Lieutenant General Doctor Seretse Khama Ian Khama and some cabinet Ministers. Through our client’s support we raised P262 000, P 15 000 was donated to the President’s Charitable Trust to support the President’s Housing Appeal and the remainder is being used to execute the Bank Gaborone Financial Literacy Program. Bra SID our savings and investment ambassador shares tips on a variety of financial topics. 

Click here to download Financial Literacy SID Tips

Corporate Social Responsibility

Bank Gaborone invests in a range of social and community-based projects that aim to make an improved and sustainable difference in the lives of those who benefit from our social investment. Bank Gaborone has continued to create and support initiatives that are in consonance with both its Corporate Social Responsibility policy and other projects which remain a staple on the banks agenda.  Over its 10 years of operation there have been various Corporate Social Responsibility undertakings with a great number of them aimed at youth focused organizations. Bank Gaborone has also taken it upon itself to make certain initiatives such as fighting Cancer and Diabetes a staple as health indicators show that these two illnesses are becoming a growing concern in Botswana.  As it grows the bank intends to further strengthen its relations with stakeholders in order for its donations and sponsorships to reach out to more communities.
Bank Gaborone also sits on the Botswana Bureau of Standards (BOBS) Social Responsibility Technical Committee which has set out to develop social responsibility standards for Botswana which are in accord with International Standard Organisation (ISO). These standards will assist organisations in Botswana to establish, implement, maintain and improve social responsible frameworks which will allow the country to manage business impact on communities and the environment in which they operate. They will also ensure that Botswana remains a competitive global player by having practices which are internationally accepted.
We are challenged by rising public expectations, increasing innovation, continuous quality improvement and heightened social and environmental problems. We intend to chart a CSR course within a very complex and dynamic environment. We will continue to reflect on the longer-term trends in CSR - the future of corporate social, environmental, stakeholder demands and ethical responsibility beyond the immediate operating environment. We believe that CSR is part of a search for a new social contract between business and society.

Bank Gaborone Charity Golf Day

The Bank Gaborone Charity Golf day started in 2011 and was one of the banks flagship charity events aimed at raising funds for worthy causes that help the needy and those who are less fortunate. Since its inception the event has raised over P200 000. Beneficiaries are from all over Botswana and include Lephoi Centre (Francistown), Botswana Baylor Children’s Clinical Centre of Excellence (Gaborone), Bakgatla Bolokang Matshelo (Mochudi) and Window of Hope (Ghanzi) among others.
]​Haskins Gaborone Regional Youth League

Aligning itself with its agenda to assist youth focused initiatives, the bank sponsored the Haskins Gaborone Regional Youth League in 2014 which is a football tournament aimed at developing players from disadvantaged backgrounds. The bank sponsored an U15 team called Smoden from Mogoditshane.

North Vs South U13 Soccer Tournament

The bank sponsored a football tournament of private primary schools from the North and South of Botswana called North Vs South U13 Soccer Tournament. The initiative supported the development of sporting talent from both the northern and southern region of Botswana.
Mini Cricket World Cup
The bank has also sponsored the 2015 and 2016 Mini Cricket World Cup. This is a tournament played by U13 primary going children represented by five different nationalities: Botswana, India, Sri Lanka, South Africa and Pakistan. The bank was the main sponsor of the 2016 event having.
Time Adventure Challenge
Bank Gaborone has over the past three years donated to charity by sponsoring and participating in the outdoor sporting event Time Adventure Challenge that is a collaboration between Time Projects with the Rotary Club. The event is a relay comprising of cycling and trail running. All proceeds for this event are donated to charity.

HE and MD Charity Fun cycle

Bank Gaborone & Office of the President held the first ever H.E. and MD Charity Fun Cycle event in aid of the President’s Housing Appeal and the Bank Gaborone Financial Literacy Program aimed at teaching Batswana effective financial management. His Excellency Lt. Gen. Dr. Seretse Khama Ian Khama and select Cabinet Ministers cycled a total of 100km alongside Bank Gaborone Managing Director Sybrand A. Coetzee and some members of his Executive Management team and a number of participating cyclists from various private and public sector organisations. Bank Gaborone clients supported the initiative by making donations amounting to approximately P 250 000 which will be used to educate Batswana on Financial matters.
Apple Diabetes Project
The Bank does not only pride itself with contributing to the community but seeking innovative ways in which it can involve the community in the process. Partnering with both the Diabetes Association and retail giant Tetseng Retail Group (Spar), the Diabetes Apple Project became the first of its kind fundraiser where the public were requested to donate funds through the purchase of apples. This not only assisted to raise funds but also promoted a healthy lifestyle by encouraging the public to eat healthy foods such as an apple.  The bank together with its partner beneficiary; Diabetes Association of Botswana held a walk coupled with testing the public for diabetes in order to raise awareness about the disease.  The Diabetes Association of Botswana has remained a constant on the banks Corporate Social Responsibility initiatives since 2012 when the association was a beneficiary of funds raised at the 2012 Charity Golf Day. The Diabetes Apple Project raised P150 000 which was handed over to The Diabetes Association of Botswana by the then Minister of Health Hon. Min. Reverand Dr. John Seakgosing.

Other projects sponsored by Bank Gaborone

Up- Kgale Hill Challenge
Gamodubu Children’s Trust
Kang Primary School
Ratsie Setlhako Primary School
Cross fit training series
Lady Khama Charitable trust
Botswana Society for Prevention of Cruelty to Animals (BSPCA) Golf day
Inter church sports ministry sponsored walk
Nando’s Walk for Diabetes
Son of the Soil
UB Foundation Golf Day
House of Peace
Annual University of Botswana Foundation Gala Dinner

Sponsorships

Dlala Cup
Botswana Cycling Championships
Brand Refresh