Stanbic Bank Botswana:Offering Cutting edge Global Markets Solutions

Lebea Sephuma

Stanbic Bank Botswana:

Offering Cutting edge Global Markets Solutions

By: Ephraim Banda

Fueled by a culture of excellence and a strong belief that dreams are the flames that power the future, Stanbic Bank Botswana has been making bold strides to wield true impact and change lives for customers across Botswana as a key player in the Nation’s Financial Services industry; it is not simply about standing out, but about creating meaningful progress on transforming dreams into lasting realities. Thanks to its cutting edge and customer-centric solutions, Stanbic Bank has earned itself international accolades reflecting the innovation, achievement, strategy, progressive and inspirational changes taking place within the global financial community. Global Markets is one of the Bank’s divisions that has been in the limelight for its bespoke solutions. Strides had a tête-à-tête with the Head of the division, Lebea Sephuma, a man with international experience and great treasure of acquaintance and expertise in the Bank’s Wholesale Clients segment to garner insights on Global Markets. “We offer FX and interest rate products. Our solutions assist clients to manage their foreign exchange and interest rate risks. Our clients are individuals, businesses and large corporates. We are committed to supporting them across the full spectrum of services, committed to helping transform their dreams into lasting realities and to fueling their growth stories,” says Sephuma. As an expert, Sephuma notes that those businesses have diverse nuances and unique requirements. Therefore, due to such insight, there is a demand for the Bank to be strategically positioned to deliver holistic solutions to cater for diverse growth ambitions, financial objectives as well as help businesses and individuals navigate intricacies of international trade.

“We pride ourselves on client-centricity and analyse the clients’ needs to identify the most suitable solution for them. This is how we work to create true and sustainable value. We are also on hand to offer our expertise and insights into Global Markets, for we have a wealth of expertise and experience to share,” says Sephuma. To facilitate real-time access to Forex for its customers, Stanbic Bank recently launched the eMarketTrader Mobile App. The App follows the previously introduced eMarketTrader web and desktop platform launched in 2019. Sephuma says these innovations are a demonstration of the Bank’s commitment to bring dreams to reality by partnering with clients through their growth journeys through uncharted paths. “When we first offered eMarketTrader, it was a web-based, desktop platform. We listened to the feedback from our clients and also wanted to enhance our clients’ user experience on eMarketTrader and hence introduced the eMarketTrader Mobile App. Amongst others, with the eMarketTrader Mobile App, clients are able to keep up to date with live exchange rates and have access to market commentary published on the App. Users can also set alerts to be notified if and when a particular rate is reached. This brings more real-time functionality, convenience and simplicity,” explains Sephuma. As the business world is fast embracing technology in all operations, Sephuma indicates that the division’s other services are also digitally accessible. “Our products are available across various platforms, for example Internet Banking and Enterprise Online. This is in line with our digital transformation journey, bringing greater convenience, inclusion and access for our customers and clients in line with our overarching desire to fuel Botswana’s growth and build the bank of the future,” he says. In addition to the Bank’s expertise, Sephuma notes that Stanbic Bank is engaged in a number of exciting collaborations for progress. One of these progressive collaborations is with the Citizen Entrepreneurial Development Agency (CEDA) with whom the Bank signed a Memorandum of Understanding (MoU) to facilitate seamless importation of goods and services from China by CEDA-funded clients in 2020.

Speaking about the partnership with the Stanbic Bank, CEDA Chief Executive Officer, Thabo Thamane said, “The partnership with Stanbic Bank Botswana will enable CEDA clients to source their inputs, raw materials and machinery from China with reduced risks and challenges. Stanbic Bank Botswana will use the ACAP facility to provide solutions to challenges that CEDA-funded projects encounter when importing goods and services from China.”

He said some of the challenges the partnership with CEDA will solve includes language barriers, price negotiations, non-delivery of goods and supplies

Accelerate event for Girls4Girls

of sub-standard goods. “Through this agreement, CEDA-funded projects will be able to connect with reputable suppliers to ensure seamless trade. In the past, we have had very unpleasant experiences where CEDA funded projects struggled with non-delivery or poor-quality goods from suppliers in China,” said Thamane. Stanbic Bank Botswana’s Africa China Trade Solutions offering aims to assist CEDA clients to source and validate quality goods safely and efficiently from the most competitive suppliers in China. The facility will also empower clients with sight and control of the entire importing and logistics process. Operating through accredited trade agents from China will grant CEDA clients access to thousands of suppliers who will provide them with better quality goods and favourable terms. Through the MoU, Stanbic Bank Botswana will also facilitate procurement of goods from other markets such as South Africa and India by issuing guarantee/a letter of credit for payments on behalf of CEDA clients.

Another noteworthy collaboration by Stanbic Bank is with diamonds giant, Debswana, as part of efforts to further advance the lives of local entrepreneurs and ignite dreams. The agreement will see Stanbic Bank as the financing partner for Debswana’s Citizen Economic Empowerment Programme (CEEP), through the provision of credit facilities, and other banking capabilities covering digitised solutions for their business, transactional and investment capabilities to support the expansion of SMEs or any entity that is on the programme. “This MOU provides a framework of cooperation, facilitates and strengthens collaboration between Debswana and the Bank on a non-exclusive basis, in areas of common interest, specifically building innovative, productive and competitive small and medium enterprises (SMEs) to enable them to effectively and efficiently supply Debswana,” elucidates Sephuma, adding, “The Bank will provide skilled Relationship Managers for the day-today business needs of suppliers on the CEEP programme. The suppliers will also be granted access to the Stanbic Bank Accelerate Incubator as a shared facility to work from and hold meetings. In addition, suppliers are offered Stanbic Bank’s Trade Club solution as the Bank recognises the need for the identified participants to diversify their product offering beyond the Debswana CEEP contracts in order to achieve exponential business growth. This extends beyond Botswana’s borders through exports thus providing local suppliers with access to markets.” The Bank has also taken intentional steps to empower Botswana youth through products and collaboration at its flagship incubator, Accelerate.

Botswana businesses should ensure they have a quality product that can compete on the international markets. - Sephuma

“At Stanbic Bank’s Accelerate Incubator, we have a strong focus on youth employability and entrepreneurship, in line with the Social, Economic and Environmental (SEE) strategic value driver of the Bank. Working with key partners and stakeholders across the public and private sector to realise this ambition, we recognise the mandate, ambition and delivery model of Accelerate through its 4-pronged approach: Incubation, Acceleration, Access to Funding & Access to Markets. We want to make a tangible and indeed sustainable difference for Botswana’s youth through Accelerate, we appreciate the importance of preparing youth enterprises to thrive post incubation not only in terms of technical business skill relevant to their desired craft, but with real-world skills to be able to effectively represent their enterprise, pitch and present to potential clients or funders, and engage with strategic stakeholders in an effective manner. Equally, these are skills that would benefit any individual desirous of becoming more attractive to prospective employers, i.e., enhances employability. We have a number of key collaborations and workstreams under Accelerate all aligned to this key mandate,” elaborates Sephuma. With the help of the Bank’s cutting-edge Global Markets solutions, Sephuma believes that the opportunities for Botswana-based businesses and enterprises are endless. However, he is quick to advise that they need to brace themselves and offer products and services of international quality. “Botswana businesses should ensure they have a quality product that can compete on the international markets. The resources and support are available and around, but we need to ensure feasible, strong ideas that satisfy true needs and gaps, and then fight with fierce determination to take these to market. We are an innovative and determined people – we must remain committed towards excellence and success,” he says. Commenting on the opportunities brought by the African Continental Free Trade Area (AfCFTA), Sephuma said, “AfCFTA should open up new markets to Botswana businesses, boosting economic activity and diversifying trade alternatives. It is a momentous development and with the input, involvement and collaboration of key players, is truly a potential gamechanger for us all.”

Sephuma joined Stanbic Bank in 2003 as an FX Trader. After a stint as Corporate Sales Dealer and Head of Trading, he was then seconded to Johannesburg to work on the AR rollout of the GM dealing system. Upon completion of that assignment, he was retained by Standard Bank South Africa to assist on the Money Markets and Fixed Income desk for the South and Central region, based in Johannesburg. In May 2015, he was attached to Standard Bank Eswatini as Head of Global Markets and, in September 2020, he joined Stanbic Bank Botswana as Head of Global Markets.

“It has been a rewarding and incredible journey thus far, and I look forward to more great efforts as we work to bring our purpose to life: Botswana is our home; we drive her growth. It is about tangible outcomes in this regard to improve lives for all.” says Sephuma.

Chief Executives, Thabo Thamane of CEDA and Samuel Minta of SBB