Gaborone – First National Bank of Botswana Limited (FNBB) has announced the promotion of its Chief Executive Officer, Ms. Lorato Edith Boakgomo-Ntakhwana to the position of Deputy Chief Executive Officer – FNB International, based in Johannesburg, South Africa.
This appointment is effective 1 January 2015. Her new portfolio will specifically entail driving the FNB Group's expansion strategy into Zambia, Mozambique, Swaziland and Lesotho.
During Ms Lorato Boakgomo-Ntakhwana's five year tenure at the helm of the Bank, FNB Botswana achieved many successes which, inter-alia, include expansion in Consumer channels such as the branch network, point of sale devices and ATMs. Lorato's firm dedication towards bringing convenience to customers saw the bank gaining the largest market share across most banking categories.
This was achieved through an increased innovative range of products and services and a promotion of banking efficiencies through electronic banking products, such as Ewallet, the Banking App and Advanced ATM Machines, to mention but a few. It is during her tenure that FNB Botswana became the largest bank across a number of measures. It became the largest Company and Bank by market capitalisation on the Botswana Stock Exchange at P8.8 billion as at July 2014, had the largest balance sheet and advances and became the most profitable bank.
"This achievement was recognised locally and abroad through international awards received. The most recent ones being an award for the Best Local Trade Finance Bank in Botswana by the Global Trade Review and another for the Most Innovative Bank in Botswana by the Global Banking & Finance Review 2014. Her leadership expertise focused on developing and empowering local staff at all levels, thereby resulting in FNBB becoming the pre-eminent Bank in Botswana," said Bomolemo Selaledi, FNB Botswana Head of Marketing and Communications.
She said, "In the interest of continuity and ensuring focus is maintained at all times during this transition period, Ms Boakgomo-Ntakhwana will continue to serve as CEO of FNB Botswana whilst the Board progresses with the recruitment of her successor. The Management and Leadership structure of the Bank remains strong and well equipped to continue with the strategies in place, the operational implementation of these strategies and the risk management thereof."