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Absa Bank Botswana Limited 2020 Annual Report

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Absa Bank Botswana Limited 2020 Annual Report Introduction Reviewed and re-shaped our Delivering possibilities Annual Financial strategy throughout 2020, and shared value Statements responding to the changing landscape. Absa Bank Botswana Limited 2020 Annual Report Absa Bank Botswana Limited 2020 Annual Report i Introduction Reviewed and re-shaped our Delivering possibilities Annual Financial Introduction Reviewed and re-shaped our Delivering possibilities Annual Financial strategy throughout 2020, and shared value Statements strategy throughout 2020, and shared value Statements responding to the changing responding to the changing landscape. landscape. Contents Absa at a glance Absa Bank Botswana Limited is listed on the Botswana Stock Exchange and is one of Botswana’s leading financial institutions. Leadership reviews 33 branches Board Chairman’s statement 2 P20.6 billion balance Managing Directors report 6 sheet size (2019: P18.8 billion) 113 ATMs Our leadership Country Management Committee 12 deposits Board of Directors 34 P15.9 billion employees due to customers 1 089 (2019: P14.4 billion) Reviews Separation journey 10 Capital Adequacy Ratio 4 147 point-of-sale Finance Director’s report 18 18.2% (2019: 19.2%) Corporate and Investment Banking 24 (PoS) devices Retail Banking 25 Business Banking 26 Treasury and Balance Sheet Management 27 Risk review 29 People Function report 30 Our purpose Citizenship report 32 Digital Journey We believe in Best Investment Chat Banking Governance We are proud to introduce a first to market, our friendly Chatbot Bank powered by artificial intelligence (AI), Abby. bringing Corporate Governance 36 in Botswana possibilities 2020 African Annual financial statements SkyBranch Directors’ responsibilities and approval 50 Banking to life. We launched SkyBranch, our virtual branch where customers can access Independent auditor’s report 54 Awards - EMEA a banker at the call centre for enquires, transactions and accessing Statement of comprehensive income 62 Finance facilities. Statements of financial position 63 Our values Statements of changes in equity 64 NovoFX App Statement of cash flows 66 NovoFX App is suited for customers who need to make international We drive high Summary of accounting policies 67 payments on the go. The App simplifies foreign exchange purchase performance to achieve Notes to the annual financial statements 84 (forex) and facilitates cross border payments from a mobile phone with Normalized view vs IFRS view 171 real time exchange rates. sustainable results Value added statement 180 Notice to shareholders 181 Absa Mobile Banking App Our employees are our Annexure 182 The Absa Mobile Banking App allows customers to conduct financial strength Proxy 183 transactions remotely using their mobile devices. The service is available on a 24-hour basis, offering customers the convenience to transact at We are obsessed with Advancing our digitally-led anytime, anyplace. business strategy. the customer Absa Access Our newly improved digital platform gives access through a single We have an African Successfully concluded the sign-on to all Corporate and Investment products and services in one heartbeat place, across various channels. separation from Barclays within time and budget. Contactless payment We introduced the ‘Tap n Go’ functionality to our vibrant Vertical Debit and Credit Cards as well as for our point-of-sale (PoS) devices when transacting with our Debit Card at selected stores. ii Absa Bank Botswana Limited 2020 Annual Report Absa Bank Botswana Limited 2020 Annual Report 1 Introduction Reviewed andand re-shapedre-shaped our our Delivering possibilities Annual Financial Introduction Reviewed andand re-shapedre-shaped our our Delivering possibilities Annual Financial strategy throughoutthroughout 2020, 2020, and shared value Statements strategy throughoutthroughout 2020, 2020, and shared value Statements responding toto thethe changingchanging responding toto thethe changingchanging landscape. landscape. Chairman’s statement continued As part of essential services, the Bank’s first consideration Citizenship Over the last year, the Bank was to ensure that our workforce was safe while serving customers and promoting a safe environment for stakeholders The Bank continues to play an important role in the economy Alfred Majaye Dube has defended its market visiting the Bank’s premises. To this end, the Bank deployed a and communities in which we operate. Whilst our Citizenship share and demonstrated that range of strategies, underpinned by the following pillars: Agenda and our ambition to play a Shaping Role in Society Interim Board Chairman remains a priority, we have had to align our activities to it is an agile and relevant z Adhering to the Government of Botswana guidelines and address the challenges created by the pandemic. Therefore, financial institution. protocols our focus has been to support our government's efforts and z Keeping our customers and employees safe to this end, the Bank donated P 1.5 million to the COVID-19 z Sustaining and keeping our customers afloat Relief Fund and other initiatives. z Supporting the community at large The Bank’s commitment to education has continued through These pillars underpinned the following strategic actions: the F.G Mogae sponsorship and the Nelson Mandela Chairman’s statement Scholarship Fund, the latter being funded through the Group. z Adjusting our ways of operating and serving our customers 2020 was no doubt an unprecedented year that challenged Absa Bank Botswana Limited’s The last phase of the renowned Madi Majwana Tour by intensifying digitisation, enabling safer transacting at impacted fourteen schools, reaching over 5000 students and (“the Bank”) resilience in the face of a devastating COVID-19 pandemic. Globally, by the end home and self-service. their teachers engaged in Ghanzi, Maun, Palapye, Gaborone of the first quarter 2021, 123 million people had fallen ill, with 2.7 million recorded deaths z Mitigation measures, which included providing Personal and Good Hope. Protective Equipment for our people and customers, directly linked to the pandemic. Despite its largely negative impact, the COVID-19 pandemic installing sanitiser dispensers at our ATMs and corporate allowed us to appreciate technology better, enabling us to buildings, and introducing screening processes as continue with some of our work unperturbed. Our The Bank has particularly been impacted in relation to: necessary. Opening remarks ReadytoWork online learning program remains critical to our As at 23 March 2021, employees affected by COVID-19 in the z How we execute our strategy of supporting various sectors z Facilitation of debt relief measures for impacted individuals Citizenship mandate and is available for individuals Bank were recorded at 48 infections and the loss of and industries. and entities. transitioning from school to the world of work. employees across Absa Group Limited (“Absa Group or the z How we operate, interact with and serve our customers. z And finally, providing support to government efforts in I must also mention our inaugural "Women in Business" Group”) was at a devastating 34 employees, including the loss z How we conduct, govern and regulate ourselves as fighting the pandemic by contributing to the national relief webinar in the last quarter of 2020, under the theme of Mr Peter Matlare, the Absa Group Deputy Group Chief individuals and the banking industry at large. fund. "Re-imagining Business for Women Entrepreneurs". This Executive Officer and Chief Executive Officer of Absa Regional The "New Normal" has presented the banking sector with Further details on the development and implementation of our platform enabled panelists to discuss the role of technology Operations. As part of the Absa Group, and on behalf of the challenges and opportunities and therefore, influenced the strategy are on the Managing Director’s report. As the Board, in improving business practices and offer practical solutions Bank’s Board (“the Board”), who had the opportunity to work way the Bank thinks about the business and its long-term we are satisfied that the strategy remains relevant and will in this regard. with Peter regularly over the last 3 years, I wish to recognize sustainability. While the short-term outlook continues to look continue to support the investment in strategic capabilities Peter’s significant contribution and passion for the African We remain proud of our employees who continue to offer challenging, many areas such as digital uptake will experience and technology for the Bank to continue on the sustainable continent. The transition journey that saw the Group separate their time and services as volunteers for a wide variety of significant growth. Despite ongoing economic and fiscal growth trajectory. organisations across our nation. from Barclays PLC was seamless for the African countries, challenges, the Bank showed remarkable resilience in a including Botswana, due to the experienced, empathetic and tumultuous year by carefully considering value protection for Transition journey charismatic leader in Peter, who had a firm grasp on the all stakeholders through urgent and deliberate decisions, Over the last few years, a key focus area for the Group, Bank Board matters business landscape and culture of the African continent and keeping the Bank’s long-term sustainability as top of mind. and Board, has been the separation from Barclays PLC, which The Board remains dedicated to retaining and elevating core embodied Africanacity. The Bank conveys deepest sympathies Details
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