Moses D Pelaelo: Banking sector expansion and challenges in Botswana

Keynote speech by Mr Moses D Pelaelo, Governor of the Bank of Botswana, at the official launch of Bank Gaborone Maun branch, Gaborone, 11 September 2017.

Central bank speech  | 
22 September 2017
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Good morning and thank you all for being part of the official opening of the Maun branch of Bank Gaborone.

Today marks yet another important milestone in the history of Bank Gaborone in Botsw ana. Last year, on March 22, the bank opened its doors to the residents of Palapye, that w as just tw o years after the opening of the Kang branch (in 2014) in Kgalagadi North, w here, by the w ay, to date, Bank Gaborone is the only bank in that village. It is, therefore, commendable that in a period of three years, Bank Gaborone has added three new branches, to take the total to 9 and 17 Automated Teller Machines (ATMs). This becomes even more significant if w e consider the fact that Bank Gaborone started its operations in Botsw ana in 2006 and, in a relatively short period of 11 years, it has expanded its netw ork of branches, comparable in number to, or even, surpassing some of the older banks in the country.  The bank also provides electronic banking services, w hich further extends its coverage and footprint.