Information and Technology Solutions Annual Report

Total Page:16

File Type:pdf, Size:1020Kb

Information and Technology Solutions Annual Report Working Together on Digital Innovation Information and Technology Solutions Annual Report Fiscal Year 2017 For Official Use Only Photo: Brandon Payne Welcome A Look Ahead The world runs on information technology, and The FY18-20 ITS Strategy was developed as a service organization, we are dedicated to through extensive consultations with business delivering high-quality products and solutions partners throughout the organization—in to meet the IT and information management Washington and in country offices—to ensure needs of the World Bank Group. In Information that it meets the current and future needs of and Technology Solutions (ITS), we strive to the World Bank Group. It is fully aligned with ensure that the Bank Group and its staff have Bank Group objectives and priorities, including the systems, tools, and information they need the Forward Look, IFC 3.0, and MIGA 2020. to make the greatest impact on development. Three strategic priorities serve as drivers for In 2017, ITS made significant strides in our new strategy: solutions for the business, building partnerships across the Bank value for money, and excelling at the basics Group to foster innovation, improve IT by providing a high-performing and resilient services, and plan for the future. IT environment for the World Bank Group. This year, we successfully completed the To track our progress, ITS is committed to three delivery of our FY15-17 strategy. Building on sets of business outcomes: client responsiveness, that foundation, we developed a new forward- organizational effectiveness, and risk management. looking strategy for the next three years. Accordingly, our ITS 2017 Annual Report We will report to you on the achievement provides a look back as well as a look ahead. of these outcomes on a regular basis. Sincerely, A Look Back During the FY15-17 strategy, ITS made investments in foundational systems, completed deferred maintenance, consolidated IT services across the Denis Robitaille Bank Group, centralized IT staff, and began a new Vice President & WBG Chief Information Officer way of delivering IT services using cloud-based Information and Technology Solutions products. These efforts paid off with increased client satisfaction, while significantly contributing to the Bank Group’s Expenditure Review exercise. FY17 ITS Annual Report 2 Table of Contents Welcome ........................................................................2 Retrospective on the FY15-17 Strategy ........................4 ITS by the Numbers.......................................................6 Modern Operations ........................................................8 ITS Support for ICT Projects .......................................12 Information, Knowledge, and Learning ........................14 Modern HR ..................................................................18 Risk Management........................................................22 Core Financial and Strategic Budget Systems ............26 End User and Work Experience ..................................30 Modern Foundational Technology Infrastructure .........34 IT Client Satisfaction Survey .......................................38 The Road Ahead..........................................................39 ITS Financial Summary ...............................................40 FY17 ITS Annual Report 3 Retrospective on the FY15-17 Strategy Internal Changes New Functional Organization D&I Compact signed by ITS Client Satisfaction with Model implemented to better Management to improve staff IT services rose to 73%. align ITS to business needs. diversity and inclusion. ITS Chennai Leadership An Annual Investment Plan IT Governance process Forum established to with three-year strategic revamped to ensure provide two-way feedback outlook is approved. business driven decision- between Chennai- and making for investments. DC-based staff. Data Management Office established to improve Bank business data quality and governance. FY15 FY16 Delivered Solutions Cloud-based Outlook email Mobile Approvals iPortal launched and replaced legacy Lotus Notes launched to expedite provided 360° information to improve staff productivity. transaction processing on IFC clients. from mobile devices. Jabber collaboration tool Standard Reports implemented to enable staff to PeopleSoft platform launched to simplify call and chat via the internet reimplementation monitoring and reporting on from any device. completed to support a Bank operational projects. suite of HR processes. WebEx online meeting tool Open Learning Campus launched to allow staff to attend Box file-sharing solution launched to provide online meetings with colleagues and launched to improve staff access to development external partners from any device. productivity and collaboration. knowledge to WBG staff and its partners. 4 FY17 ITS Annual Report Talent Marketplace established IT Client Satisfaction survey Proof of Concept process for part-time assignments to issued on quarterly basis to ensure launched to promote an ITS create more career opportunities. ongoing stream of user feedback. culture that embraces innovation and experimentation. Enterprise Architecture practice Change Management process established to align WBG IT implemented across ITS to Information Security process landscape to business needs. improve client experience with strengthened through ongoing new and improved IT solutions. cyber awareness campaigns. IT project benefits framework adopted and 71% of project benefits realized as of end of FY17. FY17 WBG Print service launched to ezConnect launched as WBG myTravel Portal launched as dramatically reduce the number of remote access solution to the destination for all travel-related printers and paper costs. enable staff to access WBG services and information for systems from anywhere. WBG staff. Open Archives Campus created to open the WBG Archives to the world. www.worldbank.org is Windows 10 operating system redesigned and moved to the is rolled out to WBG staff. ePerformance system launched cloud for better performance to support the entire performance and end-user experience. Data Center consolidation management process. increased operational efficiencies, New Bank Operations Portal 3.0 reduced WBG footprint, and launched to support IPF projects, saved $2.4 million annually. new ASA product line, and the first set of Trust Fund integrations. OneDrive replaced Box to provide cloud-based file sharing and storage and $1.5 million in annual cost savings. FY17 ITS Annual Report 5 ITS by the Numbers Before and After the ITS FY15-17 Strategy People 62% 30% 40% 13 4% Distributed Gender Balance Diversity Skilled Then: 57% Then: 26% Then: 36% Then: Below target Now: 62% of ITS VPU Now: Over 30% of GF+ Now: Over 40% of ITS Now: 134% of target contractors are offshore technical staff are women managers are from investment in staff learning Part II countries Solutions Responsive Relevant Smart Simple Responsible Then: 3,000 Then: None Then: None Then: 150 isolated Then: 5 Now: 12,500+ Now: 900,000+ Now: 30,000+ telephony systems Now: 2 data centers corporate mobile transactions virtual conference Now: One standard host WBG IT smartphones approved as of the sessions per month enterprise solution infrastructure reducing supported by ITS end of FY17 via WebEx our footprint Culture 45 180 Quality Client-Focused Innovation Cloud Then: Under 75% Then: Under 45% Then: Few Then: None Now: Over 85% of ITS Now: Over 76% of WBG Now: Over 45 Proof of Now: Over 180 capital projects delivered on staff are satisfied with IT Concepts of innovative IT projects are using cloud- time and on budget services and products technologies are completed based solutions FY17 ITS Annual Report 6 ITS Business Programs ITS delivers transformative information and technology solutions to enable the World Bank Group to achieve its mission. Our business programs align the ITS vision with the WBG strategy to select the right IT investments and ensure disciplined implementation. These business programs leverage cloud-first and buy-before-build principles to modernize systems and tools, strengthen monitoring and reporting, and foster a culture of service excellence, agility, and innovation. They also put the user at the center of design decisions. Modern Operations Develop modern systems for operations that simplify and integrate business processes and reporting, strengthen mobility and performance capabilities, and support accountability and collaboration. Information, Knowledge, and Learning Ensure that Bank Group staff, managers, partners and clients all have easier access to Bank Group learning, data, analysis, and published studies. Modern HR Modernize HR systems to simplify processes and build a culture that aligns performance management with rewards and recognition, staff development, and learning. Risk Management Rigorously manage risks through enhanced monitoring, robust reporting and analytics, a comprehensive valuation solution, and other improved capabilities. Core Financial and Strategic Budget Systems Update financial systems to conform to international accounting standards, regulatory frameworks, and reporting requirements. End User and Work Experience Provide Bank Group staff with seamless access to their information, documents, and institutional applications, regardless of location or device. Modern Foundational Technology Infrastructure Build upon a modern, robust, and flexible technology infrastructure with powerful foundational capabilities. FY17 ITS Annual Report 7 Photo: Joanne
Recommended publications
  • Full Year 2020 Results Presentation to Investors and Analysts
    FULL YEAR 2020 RESULTS PRESENTATION TO INVESTORS AND ANALYSTS Disclaimer The information presented herein is based on sources which Access Bank The information should not be interpreted as advice to customers on the Plc. (the “Bank”) regards dependable. This presentation may contain purchase or sale of specific financial instruments. Access Bank Plc. bears no forward looking statements. These statements concern or may affect future responsibility in any instance for loss which may result from reliance on the matters, such as the Bank’s economic results, business plans and information. strategies, and are based upon the current expectations of the directors. Access Bank Plc. holds copyright to the information, unless expressly They are subject to a number of risks and uncertainties that might cause indicated otherwise or this is self-evident from its nature. Written permission actual results and events to differ materially from the expectations from Access Bank Plc. is required to republish the information on Access expressed in or implied by such forward looking statements. Factors that Bank or to distribute or copy such information. This shall apply regardless of could cause or contribute to differences in current expectations include, but the purpose for which it is to be republished, copied or distributed. Access are not limited to, regulatory developments, competitive conditions, Bank Plc.'s customers may, however, retain the information for their private technological developments and general economic conditions. The Bank use. assumes no responsibility to update any of the forward looking statements contained in this presentation. Transactions with financial instruments by their very nature involve high risk.
    [Show full text]
  • Africa Digest Vol. 2019-04
    Vol. 2019 – 04 Contents 1. Trends on China in Africa ................................................................................ 2 2. Financial Services in Africa ............................................................................. 6 3. Western Companies in Africa .......................................................................... 9 4. Fintech and Mobile Money ............................................................................ 12 5. Linking Africa to the World ............................................................................. 16 1 Vol. 2019 – 04 1. Trends on China in Africa INTRODUCTION China’s presence in Africa is the topic of many papers, articles and arguments. Over the past few years, the Chinese government and its private sector became major players on the continent in trade, investments, and support for African governments. AFRICA China has diversified its sources of energy to meet growing domestic demand. Three of its national oil companies (NOCs) increased their investment in Africa to secure oil supplies, which accounts for almost 30% of their combined international upstream capital spending (capex). Within the next five years, these NOCs are projected to become the fourth highest source of capex in Africa’s upstream sector, after global counterparts BP, Shell and Eni SpA. They will invest US$15 billion in Africa, with two-thirds of their investment going to Nigeria, Angola, Uganda and Mozambique.1 The opportunity for exports from Africa to China presents an interesting counterpoint to China’s investments in Africa. Some commentators suggest that China can narrow its trade surplus with African countries and help them develop more economic growth by importing more value-added products from Africa. China’s consumer market is the world’s largest, and is growing at 16% compared to a US consumer market that is growing at only 2%. Unsurprisingly, private sector companies from Africa are increasingly interested in entering the Chinese market.
    [Show full text]
  • Personal Banking
    2019 ANNUAL REPORT & ACCOUNTS ACCESS BANK PLC 1 access more 2019 ANNUAL REPORT & ACCOUNTS 2 ACCESS BANK PLC MERGING CAPABILITIES FOR SUSTAINABLE GROWTH 2019 ANNUAL REPORT & ACCOUNTS ACCESS BANK PLC 3 1 OVERVIEWS .............08 10 • Business and Financial Highlights 12 • Locations and Offices 14 • Chairman’s Statement CONTENTS// 18 • Chief Executive Officer's Review 2 BUSINESS REVIEW.............22 24 • Corporate Philosophy 25 • Reports of the External Consultant 26 • Commercial Banking 30 • Business Banking 34 • Personal Banking 40 • Corporate and Investment Banking 44 • Transaction Services, Settlement Banking and IT 46 • Digital Banking 50 • Our People, Culture and Diversity 54 • Sustainability Report 74 • Risk Management Report 3 GOVERNANCE .............92 94 • The Board 106 • Directors, Officers & Professional Advisors 107 • Management Team 108 • Directors’ Report 116 • Corporate Governance Report 136 • Statement of Directors’ Responsibilities 138 • Report of the Statutory Audit Committee 140 • Customers’ Complaints & Feedback 144 • Whistleblowing Report 4 FINANCIAL STATEMENTS ............148 150 • Independent Auditor’s Report 156 • Consolidated Statement of Comprehensive Income 157 • Consolidated Statement of Financial Position 158 • Consolidated Statement of Changes in Equity 162 • Consolidated Statement of Cash Flows 164 • Notes to the Consolidated Financial Statements 203 • Other National Disclosures SHAREHOLDER 5 INFORMATION ............404 406 • Shareholder Engagement 408 • Notice of Annual General Meeting 412 • Explanatory
    [Show full text]
  • Access Bank Plc Annual Report and Accounts 2013 Contents
    ACCESS BANK PLC ANNUAL REPORT AND ACCOUNTS 2013 CONTENTS Welcome 1 3. GOVERNANCE Speed, Service and Security 2 The Board 68 Directors, Officers and Professional Advisors 74 1. OVERVIEW Management Team 75 Business and Financial Highlights 10 Directors’ Report 78 At a Glance 12 Corporate Governance 83 Locations and Offices 14 Directors’ Responsibilities 92 Chairman’s Statement 14 Customer Complaints Feedback 94 Chief Executive’s Review 16 4. FINANCIAL STATEMENTS 2. BUSINESS REVIEW Statement of Financial Position 96 Corporate Philosophy 22 Statement of Comprehensive Income 97 Reports of the External Consultant 23 Consolidated Statement of Changes in Equity 98 Commercial Banking 24 Consolidated Statement of Cash Flows 102 Business Banking 26 Notes to the Financial Statements 104 Personal Banking 28 Corporate and Investment Banking 30 5. SHAREHOLDER INFORMATION Transaction Services and Settlement Banking 34 Shareholder Engagement 222 Retail Operations Group 35 Notice of AGM 223 IT Services 36 Explanatory Notes to the Proposed Resolutions 224 Our People, Culture and Diversity 37 Capital Formation 226 Sustainability Report 38 e-dividend Mandate Form 227 Risk-Management 41 Shareholder Information Update Form 229 Proxy Form 231 6. CORPORATE INFORMATION Head Office Address 238 Branch Distribution 238 ATM Locations 244 Subscribers’ Addresses 249 WELCOME We are making progress in our journey towards becoming the world’s most respected African bank. The journey has been exciting and has elicited more commitment to delivering our brand promise – to serve our customers with Speed, Service and Security. Accordingly, we are transforming the Bank operationally and culturally, with a view to making banking with Access Bank as convenient as possible for every one of our customers.
    [Show full text]
  • Middle-Income Countries Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
    Public Disclosure Authorized Report of the Task Force on the World Bank Group and the Middle-Income Countries Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized The World Bank REPORT OF THE TASK FORCE ON THE WORLD BANK GROUP AND THE MIDDLE-INCOME COUNTRIES ACRONYMS AfDB African Development Bank AsDB Asian Development Bank CAS Country Assistance Strategy CDF Comprehensive Development Framework DEC Development Economics DPR Development Policy Review EBRD European Bank for Reconstruction and Development EIB European Investment Bank ESW Economic and Sector Work FY Fiscal Year GDP Gross Domestic Product GNP Gross National Product HIPC Heavily Indebted Poor Countries (Initiative) IBRD International Bank for Reconstruction and Development IDA International Development Association IDB Inter-American Development Bank IFC International Finance Corporation IMF International Monetary Fund LIBOR London InterBank Offer Rate MDB Multilateral Development Bank MIGA Multilateral Investment Guarantee Agency OECD Organization for Economic Co-operation and Development OED Operations Evaluation Department PRSP Poverty Reduction Strategy Paper QAG Quality Assurance Group SAL Structural Adjustment Loan SECAL Sectoral Adjustment Loan SMEs Small and Medium Enterprises SSAL Special Structural Adjustment Loan REPORT OF THE TASK FORCE ON THE WORLD BANK GROUP AND THE MIDDLE-INCOME COUNTRIES Contents Page Foreword..........................................................................................................................iv
    [Show full text]
  • Press Release
    Press Release Access Bank finalizes the acquisition of BancABC Access Bank Mozambique completed on 17 May 2021, the acquisition of BancABC Mozambique, thus starting a new phase in its history in Mozambique. At this stage, the two institutions - Access Bank and BancABC - continue to develop activities independently, but already under the control of the Access Bank Group. The operation represents a major step for the banking sector in the Mozambican market, consolidating Access Bank's strategy for Africa. Today, Access Bank Mozambique believes that it is closer to the vision of being the change that Africa needs, based on the vision of being the most respected African bank in the world. Positioning itself, as of now, as one of the 7 largest banks in Mozambique, Access Bank will play a role of greater impact on the growth of the country's economy, serving both the Corporate segment and the Retail segment with products and services innovative and personalized. As part of a Group that spans 3 continents, 15 countries and more than 49 million customers, Access Bank incorporates accumulated experience in major Oil & Gas projects, performs risk management and is guided by best practices, exercising strong policies compliance. Access Bank started operating in Mozambique at the end of 2020. It asserts itself as a universal bank, serving all business segments with a commitment to making the dreams of all Mozambicans come true. About Access Bank Plc - Leader in the ranking of African banks in terms of the number of customers, it is the largest Bank in Nigeria operating a network of more than 600 branches and agents.
    [Show full text]
  • World Bank Group Support to Electricity Access, FY2000-2014
    World Bank Group Support to Electricity Access, FY2000-2014 AN INDEPENDENT EVALUATION World Bank Group Support to Electricity Access, FY2000–FY2014 An Independent Evaluation . Table of Contents ABBREVIATIONS ................................................................................................................................. IX ACKNOWLEDGMENTS ........................................................................................................................ XI OVERVIEW .......................................................................................................................................... XIII MANAGEMENT RESPONSE ............................................................................................................. XXI MANAGEMENT ACTION RECORD ................................................................................................ XXVII REPORT TO THE BOARD FROM THE COMMITTEE ON DEVELOPMENT EFFECTIVENESS SUB- COMMITTEE ............................................................................................................................. XXXV 1. EVALUATION CONTEXT, SCOPE, AND APPROACH ................................................................... 1 Dimensions of the Access Challenge ........................................................................................................................ 1 The World Bank Group’s Evolving Strategy for Electricity Access ............................................................................ 7 Evaluation Questions and Methodology
    [Show full text]
  • Synergistic Effect of Recent Mergers and Acquisitions in Nigerian Banking Industry
    Developing Country Studies www.iiste.org ISSN 2224-607X (Paper) ISSN 2225-0565 (Online) Vol.4, No.8, 2014 Synergistic Effect of Recent Mergers and Acquisitions in Nigerian Banking Industry Adaramola Anthony Olugbenga* 1, Oluwagbuyi Luke Olusola 2 1. Department of Banking and Finance, Faculty of Management Sciences, Ekiti State University, Ado Ekiti, Nigeria *Email address of corresponding author: [email protected] 2. Department of Accounting, School of Business Studies, Federal Polytechnic, Ado Ekiti, Nigeria Abstract Precisely in 2010 in Nigeria, Intercontinental Bank; Oceanic Bank; Finbank and Equitorial Trust Bank were acquired by Access Bank; Ecobank; First City Monument Bank and Sterling Bank respectively as the only option against distress. The unpalatable experience that greeted the industry after the most notable consolidation of 2005 through mergers and acquisitions has become a course for concern for researchers in this area. In the light of the above, this study is aimed at investigating into the synergistic effect of the recent mergers and further confirming the position of economic theory which cites synergy as one the many possible reasons why mergers might occur. Using Enyi model and technique, the study analysed the pre and post-merger financial statements of three (3)of the four (4) merger groups whose data were available between 2006 and 2012. Our results showed that of the three merger groups only one showed evidence of synergy in the growth of shareholders funds while none of the groups achieved synergy in the growth of total assets. Suffice to say that not all mergers and acquisitions in Nigeria result into true financial synergy Keywords : Synergy; Acquisition; Merger; Performance; 1.0 Introduction Banking Sector Reform in Nigeria was introduced in 2004.
    [Show full text]
  • Assessing the Effects of Merger on the Performance of Access Bank Ghana and Intercontinental Bank Ghana
    International Journal of Scientific & Engineering Research, Volume 10, Issue 9, September-2019 1495 ISSN 2229-5518 Assessing the Effects of Merger on the Performance of Access Bank Ghana and Intercontinental Bank Ghana Justice Ayim Boateng, Dr. Hu Junjuan Abstract — The study looked to analyze the effect of merger on the presentation of Intercontinental bank and Access bank. The principle issues talked about were the effect of merger on association's corporate exhibition, cost of activity and usage of assets as it results in the money related execu- tion and long haul advancement of the bank. This examination along these lines planned to decide the impact of merger on the exhibition of organiza- tions Access bank and Intercontinental bank. With respect to issue of how the executives was engaged with the post-merger process, 75% of the respondents showed that thirty six (36) respondent from the old administration of the banks were coordinated in the development of the new administration. In opposition to this outcome, 51.6% of lower the executives was less associated with a large portion of the choices of the merger procedure attempted by the association. Also, they (lower the executives) questioned the entire merger process since more often than not top administration never boarded to incorporate them in many considerations. In addition, half of the respondents (half) were of the view that the approaches, procedures and practices have change after the merger. With respect to factors that have been most significant in the post-merger exercises. The result demonstrated that the procedural, physical and socio- social components were to some degree critical to the staffs in the post-merger process.
    [Show full text]
  • Press Release June 19Th, 2018 Banjul,The Gambia
    Press Release June 19th, 2018 Banjul,The Gambia ACCESS BANK INTRODUCES BORDERLESS BANKING WITH NEW ACCESS AFRICA MONEY TRANSFER SERVICE In fulfilment of its new strategic objective to become Africa’s gateway to the world, Access Bank, one of Gambia’s leading retail Banks, has launched a new money transfer service known as “AccessAfrica”, to remove boundaries across Africa with the ease and convenience of moving funds around. The new service allows both customers and non-customers of the Bank to transfer money using Dalasi or US Dollars to any of the countries where Access Bank has presence across the continent including Nigeria, Democratic Republic of Congo, Rwanda, Sierra Leone, Ghana and Zambia. David Aluko MD/CEO Access Bank Gambia Introducing this new service, The Managing Director for Access Bank Gambia Limited, David Aluko, indicated that the Bank is continuously pursuing its retail banking strategy by enhancing the efficiency of its electronic banking services, with emphasis on payment solutions that ease funds transfer across the continent of Africa. David Aluko also mentioned that the new “Access Africa” service will eliminate the risk of carrying cash, as well as promote the cashless policy, as users will be able to send money to several destinations in few minutes at any Access Bank branch location. He conclusively said, “We are rigorously working to create a seamless system for business transactions irrespective of your location in Africa, to make banking services affordable, secure and convenient for everyone. Soon, this service will be extended to other locations within and outside Africa”. Last year, Access Bank unveiled its new 5-year strategy which is expected to accelerate the Bank’s growth and position it as, a leading Bank across its various operating markets by 2022.
    [Show full text]
  • Annual Report 2019 & Accounts
    ANNUAL REPORT 2019 & ACCOUNTS more than banking 1 | page Table of contents 1 FINANCIAL HIGHLIGHTS ..................................................................................3 2 CERTIFICATION OF THE FINANCIAL STATEMENT..........................................4 3 GENERAL INFORMATION .................................................................................5 4 CHAIRMAN’S STATEMENT..............................................................................6 5 MANAGING DIRECTOR’S STATEMENT........................................................10 6 CORPORATE GOVERNANCE ..........................................................................12 7 DIRECTORS’ REPORT .....................................................................................18 8 INDEPENDENT AUDITORS’ REPORT .............................................................20 9 STATEMENT OF COMPREHENSIVE INCOME ...............................................22 10 STATEMENT OF OTHER COMPREHENSIVE INCOME..................................23 11 STATEMENT OF FINANCIAL POSITION .........................................................24 12 STATEMENT OF CHANGES IN EQUITY .........................................................25 13 STATEMENT OF CASH FLOWS ......................................................................26 14 NOTES (FORMING PART OF THE FINANCIAL STATEMENTS) .....................27 2 | page Financial Highlights 2018 2019 D’000 D’000 Income Statement Profit before tax 21,202 46,477 Profit after Tax 9,795 34,521 Net interest income 84,618 76,824
    [Show full text]
  • And Access Bank
    Atlas Mara Limited, ABC Holdings Limited and Access Bank Plc sign share purchase agreement for the acquisition of 78.15% stake in African Banking Corporation of Botswana Limited Complementary transaction that combines Access Bank’s wholesale finance capabilities with BancABC Botswana’s strong retail banking operations Gaborone 19 April 2021 – Atlas Mara Limited (“Atlas Mara”), ABC Holdings Limited (“ABCH”) and Access Bank Plc (“Access Bank”) announced that they have entered into a definitive agreement regarding a proposed acquisition of 78.15% of the issued share capital of African Banking Corporation of Botswana Limited (“BancABC Botswana”) by Access Bank. The transaction is expected to conclude in the first half of 2021, subject to the fulfillment of various customary conditions precedent including certain regulatory requirements by the Bank of Botswana and consents from other relevant authorities and certain counterparties. Key highlights include: A complementary transaction that combines BancABC Botswana’s strong retail banking operation with Access Bank’s wholesale banking capabilities, providing significant scope for revenue diversification and growth in the corporate and SME banking segment. BancABC Botswana’s customers to benefit from best-in-class digital platforms and product suites, leveraging Access Bank’s group IT infrastructure. Commenting on the transaction, BancABC Botswana Managing Director Mr. Kgotso Bannalotlhe, said: “We are delighted to have Access Bank on board as a shareholder and strategic partner as we continue to execute on our medium-term growth objectives. This transaction represents an opportunity for BancABC Botswana to be part of one of the largest banking groups in Africa and benefit from Access Bank’s strong corporate banking franchise, digital banking capabilities, and innovative product offering, as well as trade finance and international banking that leverage Access Bank’s footprint across Southern Africa and the SSA region more broadly.
    [Show full text]