Thursday, Oct 23, 2014
Home  Africa  Botswana 
Botswana  BancABC kick-starts retail banking African Banking Corporation Botswana
Date: Aug 23, 2010
  • First branch opened at The Square within the New CBD
  • Another three branches set to open by the end of quarter one, 2011

African Banking Corporation of Botswana Limited trading as BancABC, a wholly owned subsidiary of Botswana Stock Exchange listed company ABC Holdings Limited, was granted a commercial banking license by the Bank of Botswana in August 2009.

BancABC opened its first retail branch at The Square within the New CBD on 5 July 2010 and plans to open a further 3 branches by the end of the first quarter of 2011 under phase one of its retail rollout plan.

Prior to BancABC's licensing as a commercial bank it operated as the sole merchant and investment bank in the country, where the thrust of its business was to service corporate customers.

BancABC plans to open its second and the flagship branch at its recently completed head office at the Fairgrounds, Gaborone in the fourth quarter of 2010. The fourth quarter will also see the opening of its branch in Francistown along Blue Jacket Street while the fourth branch at the new extension at Game City in Gaborone is slated for the first quarter of 2011.

BancABC moved into its newly constructed own home at the Fairgrounds in Gaborone on 26 June 2010. The complex built at a cost of P25 million houses its head office as well as the flagship Fairgrounds retail branch.

"Having operated in the financial sector in the country since 1990, through predecessor institution ulc (Pty) Limited as a licensed credit institution and subsequently as African Banking Corporation as a merchant and investment bank from 2002, BancABC has a very good understanding of the local financial landscape. BancABC has a customer centric approach to service delivery and we will proudly carry this approach to our retail relationships as well" said the Managing Director of BancABC Botswana Jitto Kurian.

BancABC is entering the commercial market with personal and business banking products and services. This includes savings, investment, transactional and lending products for both categories of customers, corporates as well as individuals. "We are really excited about our entry into retail banking. Under the merchant (wholesale) banking model, our customer base was predominantly corporates and we had limited product offering. Our entry into commercial banking enables us to offer our customers, both corporates and individuals, a more holistic range for financial products and services. With a solid reputation we have enjoyed over the years as a highly efficient corporate bank, extension into retail banking was a natural transition for us" said Jitto Kurian.

BancABC is also a principal member of VISA, which will enable the bank through its retail banking services to offer a range of tailor made VISA cards to its customers. This will give a BancABC customer access to over 400 ATMs and 3,000 retail shops countrywide. VISA cards can also be used internationally at over 30 million retail locations and 1 million ATMs across the globe.

"Through the construction of our new head office and aggressive branch rollout, BancABC is not only making a bold statement of its confidence in the Botswana economy but also of its commitment to retail banking. With the rollout of retail banking BancABC is looking forward to play an even more pivotal role in the Botswana financial market. We believe with "Fresh Thinking" and "Smart Banking", BancABC has positioned itself well to address service issues and provide affordable and innovative financial solutions to our customers" noted Jitto Kurian.

BancABC promises "Fresh Thinking and "Smart Banking" to all its clients.

By: African Banking Corporation Botswana
ABC Holdings Limited (BancABC) | Zimbabwe Stock Exchange | ABCH Thursday, Oct 23, 2014 
Close Price (USD)
Open (USD)
High (USD)
Low (USD)
Change (USD) [% Change]
-0.01 [-1.3514%]
Value (USD)
52 Week High (USD)
52 Week Low (USD)
YTD High (USD)
YTD High (USD)
P/E Ratio
Shares Outstanding
Market Cap (USD)
ABC Holdings Limited (BancABC) | Botswana Stock Exchange | ABCH Friday, July 12, 2013 
Close Price (BWP)
Open (BWP)
High (BWP)
Low (BWP)
Change (BWP) [% Change]
+0.00 [+0.0000%]
Value (BWP)
52 Week High (BWP)
52 Week Low (BWP)
YTD High (BWP)
YTD High (BWP)
P/E Ratio
Shares Outstanding
Market Cap (BWP)
NA = Not Available
Botswana Stock Exchange
Top 5 % Gainers 12 July
Name Close Chg % Chg
Turnstar Holdings Ltd 1.60 +0.01 +0.63%
Standard Chartered Bank Botswana Ltd 11.50 +0.05 +0.44%
First National Bank Botswana Limited 3.64 +0.00 +0.00%
Barclays Bank of Botswana Ltd 6.49 +0.00 +0.00%
Choppies Enterprises Ltd 3.00 +0.00 +0.00%
Top 5 % Losers 12 July
Name Close Chg % Chg
G4S Botswana Limited 4.49 -0.01 -0.22%
User Comments and Discussions
(Newest to Oldest)
Top Headlines
Energy sector is key to powering prosperity in sub-Saharan Africa - Report
Viettel in Mozambique Honored as Fastest-Growing Company of the Year in Africa and the Middle East
DHL Express certified as Top Employer 2015 in Africa
Equity Bank issues mobile banking smart SIM powered by Taisys Technologies to provide mobile banking and mobile communication services
Updated: 12 July
Close 8,664.65
Net Change -11.96
Pct Change -0.14%
Botswana Stock Exchange
Top Volume Movers 12 July
Letshego 650,000
Choppies Enterprises Ltd 276,263
First National Bank Botswana Limited 118,295
Standard Chartered Bank Botswana Ltd 23,351
Turnstar Holdings Ltd 6,921
Top Value Movers 12 July
Letshego 1,482,000.00
Choppies Enterprises Ltd 828,789.00
First National Bank Botswana Limited 430,593.80
Standard Chartered Bank Botswana Ltd 268,536.50
Barclays Bank of Botswana Ltd 33,637.67
Related News  
Bancabc Offers to Buy Minority Shares (05/30/2013)  
BancABC: Notice of launch of the IR website and invitation to register (06/22/2010)  
BancABC: Changes to the Board of Directors (06/08/2010)  
Income growth and strong balance sheet demonstrate BancABC's resilience (03/10/2010)  
BancABC bucks the trend to show growth in challenging markets (08/23/2009)  
Bank Sector Update 29-09-06 (09/29/2006)  
Back Sector Update (09/05/2005)  
ABC Gains Presence in South Africa (10/01/2003)  
News Release (09/09/2003)  
Financial Results for the Half-Year Ended June 30 2003 (08/14/2003)  
Home Contact Us Privacy Policy  
Copyright 2005 - 2012 All Rights Reserved