While the banking sector continues to experience depressed trading conditions and tight competition in Botswana, Standard Chartered Bank Botswana has shown that innovation and technology products are key to the bank’s growth and sustainability.
Head of Retail Banking, Pedzani Tafa said the bank is offering its customers a world-class digital banking experience. The Global Finance has recently awarded the bank, the best Consumer Digital Bank. The prestigious award was one of 23 awards that Standard Chartered Bank won for numerous digital initiatives across its global footprint. “This award is further confirmation that it is indeed market-leading. As we continue to enhance our digital platforms in Botswana, building on the exciting innovations that were launched at our first fully digital bank in Cote d’Ivoire, we are confident that this award will be repeated for more years to come,” said Tafa. The Global Finance awards are an annual recognition of the best financial institutions around the world. These awards have become recognised and trusted standard of excellence.
For his remarks, Standard Chartered Bank Botswana Head of Digital Banking, Oaipetla Fantan added that the platform would only continue to offer greater reach and functionality for the Bank’s customers, “Our digital platforms are dynamic by nature, with each passing month, the platform continues to offer our clients newer features, greater convenience and have reduced the need to walk into our branches.
This year we have bridged the gap between bank accounts and mobile wallets, introduced the 360o Rewards platform, introduced online debit and credit card activations. We have also offered enhanced security features with the addition of Face ID login.
Looking into 2019, there are more exciting enhancements for payment options that we will be rolling out to our customers as they complete their testing phases.”However, in its half-year end June results this year, Standard Chartered Bank Botswana recorded an increase in profits to P28 million after experiencing a decline in profits for about three years.Presenting the results recently the bank’s Chief Executive Officer, Mpho Masupe said even though the commercial bank registered profit, business has not been good during the first six months of the year as they would have expected it to be.
“We have been operating in an environment which has been benign to put it slightly, to an extent that you would have known that the economy only grew by 2.4 percent for the whole of 2017 which was not expected and therefore demonstrating exactly what was happening in the business environment that year.” said Masupe, adding that they are cautious in terms of extending credit.
6 Best Forex Trading Platforms for Botswana Traders
A trading platform is software which is designed to be used for trading purposes. Whether it is the opening, closing, and managing market positions through a broker, which facilitates trades and connects Batswana traders to global markets.
For Batswana traders to get the most and best out of their trading, it is imperative to ensure that traders choose and use a trading platform which will provide the best, most dynamic trading experience and environment.
This is a proprietary and innovative trading platform developed by AvaTrade, one of the most popular Forex brokers in the industry.
With this trading platform, Batswana traders are provided with complete control over their portfolio. Traders have access to more than 40 Forex pairs and a variety of strategies, spreads, risk reversals, and more.
2. MetaTrader 4
MetaTrader 4 is one of the most used and popular trading platforms in the industry and offers the trade of Forex amidst other financial instruments.
MetaTrader 4 is free to use on desktop, web, and mobile platforms, and offers traders with a variety of options such as three execution modes, a variety of orders, 30 built-in technical indicators, 24 graphical objects, and more.
3. MetaTrader 5
MetaTrader 5, an upgrade from MetaTrader 4, is an institutional, multi-asset and multi-functional trading platform.
MetaTrader 5 is free for desktop, web, and mobile use and features MQL5 language, comprehensive price analysis, algorithmic trading options, the ability to open 100 currency or stock charts simultaneously, 80 technical indicators, and more.
cTrader is a powerful desktop application which provides Batswana traders with a dynamic, and unique approach towards charting, manual and automatic/algorithmic trading.
cTrader has a user-friendly interface with a community featuring 1000s of indicators, trading robots, and documented educational material in addition to cloud data, 24/7 support, a hi-tech design, and Full STP trading, amidst numerous other functions.
Thinkorswim is an innovation of TD Ameritrade which was launched in 2009 and has gained a substantial amount of popularity in recent years.
The trading platform offers traders with access to multiple assets including Forex, options, futures, ETFs, and stocks.
It is a desktop-based platform which offers free research, screening tools, real-time data, and numerous features including access to more than 400 technical studies, 8 Fibonacci tools, the ability to analyse option volumes, strategy back testing capabilities, and more.
ZuluTrade is one of the most popular social trading platforms in the industry which is designed for use by all types of traders, from beginners to professionals.
It allows for customization, back testing of strategies, margin call metres, and more. It is one of the most trusted social trading platforms by both brokers and traders alike.
It is imperative that Batswana traders get the best from their trading, and to ensure that they are able to refine and improve their trading strategies, trading styles, and other aspects of trading.
It is therefore necessary that Batswana traders make use of the best broker suited for their needs in addition to a top-quality trading platform.
Gov’t swiftly acts on BMC
Government has moved swiftly to place Botswana Meat Commission under the care of a management firm; the move is meant to put the Commission into shape both operationally and financially.
This was disclosed by Finance and Economic Development Minister, Dr Thapelo Matsheka, further stating the BMC is technically insolvent despite having received nearly P1billion as a bailout in recent times. The new management company will run BMC, which is based in Lobatse starting on the 2020/2021 financial year.
The finance minister made it crystal clear that, the move to appoint a caretaker firm for BMC was made to protect the interests of all stakeholders, including farmers. According to Matsheka, the Minister of Agriculture Development and Food Security, Dr Edwin Dikoloti will provide more details on the BMC changes in due course during his committee of supply speech. Government is also proceeding with the conversion of BMC to a company under the Companies Act following the approval of BMC Transition Bill and subsequent repeal of the old Act.
The repealing of the BMC Act has since eliminated the monopoly of the Commission when it comes to beef and cattle export. The repeal has also enabled government to establish a beef regulator which will be responsible for regulating the beef and the cattle sector. “Another aspect of the transition is the ultimate privatization of BMC.
The objective of the privatization of BMC is, among others, to engage the private sector in the ownership and management of the BMC to achieve operational efficiency and profitability, as well as reduce Government’s future financial commitments in the entity. This would be an important process in the transformation of the beef and cattle sector,” noted Matsheka. BMC which is 100 percent owned by government has been operating with losses for many years due to internal and external challenges such as poor supply and Foot and Mouth Disease(FMD).