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StanChart bags award for loyalty programme

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Standard Chartered Bank Botswana has been awarded the Best Bank for Loyalty Programme in Botswana during the 8th annual global banking and finance review awards recently.

According to a statement, the award is in recognition of the Bank’s 360o Rewards Programme launched two months ago. The bank’s product manager Donald Bodi is not surprised they have bagged the awards. “Rewards programmes are not a new concept in Botswana, but our 360O Rewards programme is one that truly does what it says – rewards you for just continuing with your normal spending behaviour with no restrictions on what type or grade of card you are using or which merchant you are spending at. It is holistic (360O) rewards. We are offering our clients real life value-add to their banking experience.”

Standard Chartered is a Botswana-based bank and the oldest in the market. According to Brian Mfula, head of the retail products said they are excited to have launched the 360 degrees product. “Receiving the Global Banking & Finance Review Award is even more exciting considering that it has been live to clients for just less than two months. The growth in the usage of the platform since the launch confirms that our clients have experienced the innovation and convenience it offers and are sharing in our excitement. We are proud to receive this award, and thank our clients for making this award possible.”

360O Rewards is a fully digital end-to-end card loyalty programme that rewards all Standard Chartered Bank customers for their day-to-day spends on both credit and debit cards. All Standard Chartered Bank customers are automatically enrolled for the programme but are required to register a 360O Rewards account online to access the platform.

Global Banking & Finance Review is a leading Online and Print Magazine, read in over 200 different markets. Since its inception in 2011, The Global Banking & Finance Review Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the Global Financial community. The awards were created to recognise companies of all sizes which are prominent in areas of expertise and excellence within the financial world.

The prestigious award will be published in the December 2018 edition of the London-based Global Banking & Finance Review. Alongside the Bank’s award for being the Best Consumer Digital Bank Botswana in the 2018 Global Finance Awards, This award makes it two (2) Internationally-acclaimed awards that Standard Chartered Bank Botswana has won in the last quarter of 2018.

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BSE upgrades online investor access

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A recent BSE opening bell function.

Botswana Stock Exchange Limited (BSEL) will this year introduce a new clearing and settlement system, as part of efforts to improve operations of the bourse.

Speaking at the seventh opening bell ceremony, Chief Executive Officer, Thapelo Tsheole said the development will help improve liquidity and risk management. In addition, the new settlement system replaces the 2008 system while fast tracking introduction of security borrowing and lending, management settlement guarantee fund, as well as identifiers for companies and instrument.

BSEL has already awarded a contract to a Swedish company to implement the system which is also expected to digitalize Initial Public Offering (IPO), allow electronic voting for listed companies during annual general meetings (AGM) for absent shareholders.

The project, which is expected to take eight months once the two parties sign the deal, is part of efforts to have more online investors access for BSEL. Tsheole also revealed that BSEL website will undergo a revamp this year, allowing it to be more analytic, live feed shares, as they trade.“The tender is already out for the website and mobile application. It is a project that we had hoped to implement last year but because of logistic problems, we could not do it,” said Tsheole.

BSEL further plans to introduce two data display screens at CBD and at the stock exchange.“These will assist with information sharing and keep the market updated,” said Tsheole. Meanwhile, BSEL will not change its Automated Trading System (ATS) until 2022, according to Tsheole.“The system supports our strategy to grow the market and increase the average daily turnover levels to 18.0million per day by 2021,” said Tsheole.

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BSE complies with reporting guidelines

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Botswana Stock Exchange Limited (BSEL) has become the 5th bourse in Africa to comply and publish Environment, Social and Governance (ESG) reporting guidelines.

The development comes a year after BSEL became a partner exchange of the United Nations Sustainable Stock Exchange (SSE) Initiative.“The BSE made a commitment to publish guidance on ESG Reporting. This commitment has been fulfilled.“

We are the 42nd among the 81 SSE Partner Exchanges globally and the 5th in Africa to do this,” said Kgotla Segwe, Market Development Specialist at Botswana Stock Exchange Limited.
Other stock exchanges that have complied with the SSE initiative on the continent are from South Africa, Nigeria, Morocco and Egypt.

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