Standard Chartered Bank Botswana
Nigel R Jones, MD&CEO
1. What makes your country attractive to investors?
An extremely stable political and economic environment; the highest continuous economic growth rate in the world for the past 20 years; the highest credit rating in Africa; an increasingly skilled and developing workforce; and an excellent infrastructure.
2. What are the economic prospects for your country over the next three to five years?
Prospects include continued economic growth and development but with a focus on diversification from diamond mining: value adding downstream diamond activities is to be increased. An international financial services company has been set up to help position Botswana as the financial hub for Africa. Manufacturing is expected to grow on the back of a free trade agreement with the US and tourism will be developed further.
3. How do you foresee the financial sector in your country changing?
The central bank and stock exchange are keen to see further liberalisation and the introduction of financial services products to help the quest to become a central hub. Capital markets have already developed significantly in recent years with the introduction of a number of bonds – some going out to 20 years, thus helping to provide a long-dated yield curve.
4. What role will your bank play in your country’s future development?
Standard Chartered has been associated with Botswana since 1897 (that is, before Botswana existed as a country) and it has been a pioneer in many aspects of the country’s economic and financial development. The bank plans to continue with this long association and to be at the forefront of all developments.
