Africa-Press – Botswana. Access Bank Botswana has reported modest growth in 2024, citing increased income from non-interest sources and continued investment in digital services as key drivers of performance.
This is according to the Bank’s Integrated Report 2024, which outlines operational highlights and strategic direction for the year. According to Managing Director Shepard Aisam in the report, the bank is focused on delivering digital financial services that aim to close the financial inclusion gap.
He cited the launch of the Digital Nano Loan product, known as the N’stakolle loan, developed in partnership with Orange Money Botswana, as a milestone in expanding access to finance for underserved populations.
Outpaced inflation and GDP
Aisam noted that Access Bank has also introduced prepaid card solutions in multiple currencies and formed partnerships with entities such as Botswana Life and the Government of Botswana to broaden its financial offerings.
The bank’s digital strategy is designed to offer convenience while targeting the unbanked segment of the population. “Through this collaboration, Access Bank offers Orange Money customers a unique and essential product that meets their daily requirements,” Aisam said.
Finance Director Ratang Icho-Molebatsi said Botswana’s banking sector experienced healthy expansion in 2024, with total assets held by commercial banks rising by 8 percent in growth that outpaced both inflation and GDP.
Fees and commission up 50%
Although Access Bank experienced a reduction in its loan book, the bank’s balance sheet expanded by 2 percent, reflecting what she described as the resilience of its business model.
Icho-Molebatsi said the bank recorded a strong increase in net fees and commission income, which rose by 50 percent in 2024 following a 44 percent increase in the previous year.
“While interest income declined slightly, we are achieving gains through increased transaction volumes and customer growth,” she said, adding that Access Bank is continuing to focus on digital innovation and infrastructure development.
“We are optimistic about 2025”
Despite challenges posed by softening global diamond prices and a downgrade in Botswana’s economic outlook to ‘negative’ by S&P Global Ratings, the bank remains optimistic.
Access Bank plans to deepen its focus on high-potential business segments including digital lending, secured loans, and commercial banking. It also reported a decline in customer deposits and loan balances, offset by increased holdings in investment securities and debt instruments.
“We are optimistic about 2025, with a strong asset growth pipeline and momentum across our targeted business segments,” said Icho-Molebatsi.
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