Page 12 - Noble Magazine • July-August 2020

FINANCIAL SERVICE

Business Continuity

Continued from Page 11 economic conditions. The pandemic Increasing Financial
will have a downward impact on the Inclusion
Communicable diseases such as heart growth of financial services sector
disease, diabetes, and hypertension this year, the extent of which remains Letshego understands that one of its
pose an increasing threat to the health difficult to predict with ever-changing core financial inclusion realities is the
of our communities – by ensuring pandemic conditions. Longer term inadequate level of financial literacy
the health of our communities outcomes will depend on the resilience in Botswana. For the Company’s,
against preventable diseases, we can and adaptability of financial sector financial literacy is more than simply
strengthen our communities and the participants,” expressed Ferguson. understanding how money works; it is
health of future generations. Letshego the ability to comprehend the power
Botswana’s sponsorship, valued at of prudent financial management and
over half a million Pula, trains and “Being part of how customers access and use money
mentors healthcare workers with a group with a in productive and value creating
the latest trends and policies in the footprint across 11 ways. In November 2014, Letshego
administration and management of sub Saharan countries launched a focused financial literacy
effective non-communicable disease campaign that empowers individuals
(NCD) framework for primary health in Africa, we gain with the basics of personal financial
care, across Botswana,” said Ferguson. from best practice management such as budgeting,
in technology financial planning and discipline in
Impressively, Letshego established implementation, order to promote prudent financial
Corona Crisis Committees at a Group centralised research management practices.
and country level to ensure executives
are directly responsible for managing and product Further to that, Letshego also equips
the multiple risks associated with the development, its customer-facing employees with
pandemic, and monitoring rapidly marketing trends and financial literacy tools, including
changing conditions. Letshego adopts efficiencies as well budgeting, debt management and
the latest national and international as opportunities for investing, to support themselves and
health guidelines, regularly reminding customers. The Company’s Facebook
employees and customers on the best our own people to page also features regular updates for
ways to maintain safe standards in take up permanent the community on money matters.
hygiene and social distancing. The or temporary roles in For Letshego Botswana, expansion
Company premises operate on a other exciting growth means increasing access so it continues
‘Cohort’ system to minimise the spread markets to broaden to expand its offering and reach for
of potential infection, while ensuring all Batswana across the country. In
hygiene and social distancing protocols their experience and addition to the digital access channels
are adhered to at all times. Customers career horizons.” for customers, the Company has also
and employees have embraced safety launched a Mobile App for field Direct
initiatives and protocols, as they Sales Agents (DSAs) to process loan
understand the value in collective applications wherever they may be
collaboration in preventing the risks of He added, “In line with Letshego’s located. The DSA App has reduced
such a pandemic. commitment to continue diversifying historic turnaround times by 50%.
our products and customer segments,
Outlook of the Financial we are developing and enhancing In conclusion, Ferguson said, “Being
Services Sector solutions for MSEs or “Micro and part of a group with a footprint across
Small Entrepreneurs”. MSEs remain 11 sub Saharan countries in Africa, we
The Botswana financial services sector a valuable growth segment for our gain from best practice in technology
is robust, well-regulated and attracts economy, but many small businesses implementation, centralised research
healthy competition. Competition is struggle to access funding and and product development, marketing
a welcome factor in enhancing the traditional financial services. Cash flow trends and efficiencies as well as
sectors’ development and value for and stock are often the number one opportunities for our own people to
local consumers. “We are fortunate to challenge for many small businesses, take up permanent or temporary roles
have a strong regulatory environment and Letshego is focused on supporting in other exciting growth markets to
for both bank and non-bank sectors, business owners to bridge this gap by broaden their experience and career
as this ensures general sector stability, offering working capital and supply horizons.”
especially during more challenging chain finance.”

12 Noble Magazine // July - August 2020