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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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Market Street day supports local products

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Minister of Investment, Trade and Industry, Bogolo Kenewendo has encouraged citizens to promote and support local products thus contributing to employment creation and economic development.

Speaking during the ministry’s Market Street day on Saturday, the trade minister said the ministry came up with the initiative to expose local products to the national market. “The plan is to keep growing so that we get Batswana products in the shops and get Batswana to know the products in the shops,” said Kenewendo. Market street day was initiated last year as a platform to add on to the continuing efforts to grow local businesses. This year, retail sector, including Shoprite, Choppies and Ackerman’s from South Africa participated in the exhibition.

Kenewendo pointed out that supporting local products helps reduce export of jobs. “Most of Batswana will say they don’t want to buy locally produced goods because they are of low quality, we need to buy from them so that they grow. When we buy products from other countries we are exporting jobs, why should we export jobs?” she asked rhetorically. Economic diversification drive should not be a Government initiative alone, only but all citizens should contribute, she concluded.

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Botswana behind in ease of doing business

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Botswana has been challenged to improve easy of doing business for the country to remain competitive amongst its peers.

The Director of Investor Facilitation and Relations at Special Economic Zones Authority’s (SEZA), Neo Mahube recently told delegates at the two- day investment symposium dubbed Doing Business in Botswana, Transitioning Botswana that the country needs to be globally competitive.“The world is growing better than we are, there is something that we are not doing right, despite our political stability and sound economic policies,” said Mahube.

Currently, Botswana lags behind Mauritius, Zambia, Kenya, South Africa on the ease of doing business, according to the latest World Bank’s Ease of Doing Business report. Mahube said bottlenecks that investors and local startups face to register a business should be resolved.

“We need to transform the way we are doing business, if we are to bring businesses to Botswana,” said Mahube, adding that the country needs to be as efficient as possible to start a business, apart from improving credit efficiency.

She however applauded government for legislation amendment initiatives that have already been put in place ahead of the transformation journey. Mahube said through transforming the ease of doing business the country has potential to create employment.

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