Rand Merchant Bank launches in Botswana
Speaking during the launch of Rand Merchant Bank (RMB) in Botswana last week, Chief Executive Officer of Rand Merchant Bank, Alan Pullinger expressed the regionally operating financial services provider’s intention to be a part of Botswana’s economic growth. “We are here for serious intent, our client advances currently stand at R250 billion, and we want to be a part of this in Botswana as well,” stated Pullinger. The move will see the re-branding of FNB Botswana’s corporate and investment banking activities to those of RMB.
Pullinger stressed RMB’s slogan, ‘Traditional values, Innovative ideas’, and the value they place on sound and ethical business practices at the bank. He also lauded the bank’s culture that places high value on their staff.
“When human beings are empowered, they crave responsibilities. When they start behaving as if they own the business, they act in the interest of clients and shareholders. They are going to show care, dignity and respect for those they are working with,” Pullinger said further.
RMB Botswana will offer clients a wide range of investment banking products and services including corporate finance, trading solutions, infrastructure and project finance, according to FNB Botswana CEO, Lorato Boakgomo-Ntakhwana.
Also attending the launch was CEO of the First Rand Group, Sizwe Nxasana who added that, maintaining a high level of ethics in non-negotiable. “We want our people to maintain high level of corporate governance and uphold the values that we were taught by our mothers and grandparents,” he said.
Nxasana revealed that RMB wants to make a contribution to sustainability in Botswana, saying that, “we are successful because we have empowered Batswana and we would like to continue doing so.”
On her part, Minister of Trade and Industry, Dorcas Makgato-Malesu said that she expects local enterprises to become part of the industrialisation of the country and for big companies to help small businesses to grow.
“It is my hope that RMB Botswana together with FNB will continue to support small and large corporates, state-owned enterprises and the SME sector by providing them with access to finance. With the introduction of RMB, we hope to see increased employment and development coupled with the nurturing of skills amongst Batswana and a stronger drive for a more innovative and empowered generation.”
So far, RMB & FNB Botswana have collaborated in the successful funding of the Morupule colliery; assisted Choppies with a cap boost for their expansion across Botswana borders in a P85million deal; and have helped Wilderness Safaris continue its growth as a sustainable conservation and eco-tourism business by restructuring the Group.