Standard Chartered Bank Botswana (StanChart), for 128 years in the country, is the country’s first and only international Bank in the country. Within this time, Botswana has witnessed growth and development alongside challenging local and global economic changes. Standard Chartered has been able to successfully navigate these changes by constantly evolving, innovating through technology and investing in delivering international best practice in financial services.
StanChart has recently announced a pivot to sharpening its focus on corporate and investment banking as the Bank reshapes its long-term growth strategy. This strategy leverages on StanChart’s areas of comparative advantage, allowing the Bank to differentiate within an increasingly competitive and digital financial landscape.
“As the only International Bank in Botswana, we have a duty to drive economic growth and diversification through the areas we support. These include government, government related entities, cross border investments, banks, global subsidiaries, amongst others. We are committed to Botswana’s economic growth,” said CEO Mpho Masupe in an exclusive interview with The Projects Magazine. “We continue to provide tailored financial solutions across multiple high-impact industries.”
This approach is part of a wider global strategy by the Bank to scale back retail operations in select markets. In November 2024, Standard Chartered announced it would divest its Wealth & Retail Banking (WRB) business in Botswana, Uganda, and Zambia to focus more on the Bank’s Corporate & Investment Banking business.
According to Masupe, “The Bank is already a leading wealth manager across Asia, Africa, and the Middle East, with a distinctive, consistently fast-growing and high-returning international affluent franchise.”
By streamlining operations and focusing on its areas of strength, the Bank expects to boost income growth and returns. “This presents an opportunity to sell businesses where our comparative advantage is lower and the strategic rationale is not sufficiently compelling,” he said.
KEY PLAYER IN INFRASTRUCTURE DEVELOPMENT
As Botswana pushes to diversify its economy and improve infrastructure, Standard Chartered will play a major role in financing the huge ambitions of the country.
“As a nation, we need enhanced infrastructure, we need to diversify, and we need a strong and sustainable economy backed by private sector growth,” Masupe said. “We have not only the knowledge but the experience and track record to be a key partner to the government in achieving these goals.”
The Bank has already provided more than $500 million in credit to the mining industry, the largest single bank in the country to do so. We are deeply involved in supporting large-scale infrastructure developments. Masupe described how the Bank collaborates with construction companies, and government agencies to fund roads, and commercial properties.
Standard Chartered’s global presence also gives it the ability to facilitate cross-border investments. For instance, the Bank introduced the Chinese RMB as the 6th onshore trading currency in Botswana and works through the “China Corridor,” which enables companies in Botswana to do business in the Chinese Renminbi (RMB), allowing Chinese and local firms to directly transact with mainland China.
“We stand ready to offer the same support to the Government of Botswana as we’ve done to drive diversification in Angola and Tanzania,” Masupe said. In Angola, the Bank helped finance a billion-Euro solar power initiative, whilst in Tanzania, the Bank backed a railway expansion project that improved regional integration.
GREEN FINANCE GAINS MOMENTUM
Sustainability is another key area for the Bank. As the world moves towards low-carbon economies, Standard Chartered is working to finance this transition in Botswana and across its markets. The Bank has taken a bold stance on clean energy and carbon emissions, recognising the need to transition from fossil fuels to renewable energy sources.
“Our clients expect us to help them with their transition to lower carbon business models, and we are doing that,” Masupe said. “Whether we’re guiding clients on their transition strategies or financing low-carbon infrastructure projects—it’s important business for us.”
Globally, the Bank has mobilised over USD 121 billion in sustainable finance since January 2021. It expects to reach operational net zero by 2025 and aims to achieve net-zero financing activity by 2050.
Masupe described sustainability not just as a moral imperative, but also a business opportunity. “It makes commercial sense, and the numbers speak for themselves,” he said. “We are uniquely positioned to mobilise capital to support the development and transition of economies to the sustainable and enduring models of the future.”
The Bank is also providing tools such as green loans and sustainability-linked loans to help companies in high-emission sectors shift towards greener operations. “We advise clients in developing sustainability frameworks and empower them with the expertise to deploy environmentally responsible practices,” he said.
ADVISING COMPANIES – CAPITAL RESTRUCTURING
With many businesses in Botswana looking to improve their financial efficiency and position for large scale infrastructure investment, Standard Chartered is offering services to help them restructure their capital.
“Services such as balance sheet restructuring and asset-backed securitisation are key offerings we make available to our clients,” Masupe said.
Other services include liquidity management and risk mitigation. The Bank also leverages technology through their digital banking offering to allow clients to manage accounts in real time, keep track of transactions, and lower their overall cost of doing business.
Masupe noted that this platform makes Standard Chartered one of the most cost-effective and efficient transaction Banks in the market.
A DEEP STAKE IN BOTSWANA’S MINING SECTOR
Mining remains one of the pillars of Botswana’s economy, and Standard Chartered has long been at the fore front of financing the sector even through difficult times.
“We have supported and continue to support most of the major mining and diamond selling entities, both private and government-owned,” Masupe said. “We do hold the largest balance sheet of financing to the mining companies in Botswana.”
The Bank has extended specialised financing solutions, including trade finance to state-owned enterprises, to help the government build a sustainable economy.
Within the mining sector, the Bank focuses on two ends of the diamond value chain: mining and retail. It exited the midstream segment—cutting, polishing, and trading—in 2016 as part of a strategy realignment to support clients that operate in all segments of the value chain. Beyond diamonds, Standard Chartered also supports projects in copper and nickel.
To fund high-risk mining projects, the Bank draws on its international experience. “We are the only global bank to make substantial investment in a Global Metals & Mining Advisory team of specialists in the last 8 years,” Masupe explained. “We have dedicated teams in Mining & Acquisitions, Debt Capital Markets, Financial Markets, and Financing Solutions to provide strategic options and optimised solutions.”
DIGITAL TRANSFORMATION AND INNOVATION
As the financial industry continues to evolve, Standard Chartered is investing in technology to meet the needs of a digitally inclined population.
Straight2Bank, the Bank’s digital corporate platform, includes advanced forex, trade finance, and securities capabilities. It is AI-enabled and features biometric security, which allows clients to authorise cash transactions on the go using fingerprints or facial recognition.
Understanding that not all customers have access to high-end devices, the Bank has also installed four Electronic Banking Centres across the country. It has also introduced the Eazy Pula agent banking system, which allows customers to deposit or withdraw cash at over 140 retail locations.
CYBERSECURITY AND DATA PROTECTION
In an age of increasing cyber threats, Standard Chartered is taking extra steps to protect customer data.
Masupe said the Bank has led the market in implementing biometric authentication methods. “These cutting-edge technologies not only offer a faster way to access accounts but also ensure that customer data is protected against unauthorized access.”
He added that the introduction of the SC Mobile Key, which verifies transactions without relying on one-time passwords (OTPs), has significantly reduced fraud-related attempts.
LEADING WITH PURPOSE AND INTEGRITY
Under Masupe’s leadership, Standard Chartered Bank Botswana has focused on digital transformation, customer-centric services and sustainable growth. He has been instrumental in driving the turnaround and regrowth strategy of the Bank which hinged on innovation, ensuring that it remains competitive in the rapidly evolving financial landscape.
Asked about his leadership style, Masupe said he relies on three principles: empowerment, collaboration and humility. Masupe has been the CEO of Standard Chartered Botswana since 2017. Prior to becoming CEO, Masupe served as the Chief Financial Officer at Standard Chartered Bank Botswana and has held various positions in finance, banking and mining, demonstrating strong leadership and strategic acumen throughout his career.
He believes in the ability to be humble and open to learning by gaining a variety of insights and understanding that you are not always going to be the smartest person in the room. It’s a value he holds true to and has been instrumental in guiding him in leading and engaging with his colleagues and peers in the market.
Empowering people is also vital to Mr Masupe. The ethos of “Here For Good” is something he embodies as he aims to leave a mark that will encourage and inspire others to do good for the next person.
“Our actions should not only be felt financially, but also socially, within the communities we work with,” he said. “I believe in cultivating leaders by entrusting teams with responsibility and giving them the tools and autonomy to deliver.”
He also emphasised the importance of diversity. “Standard Chartered operates in a diverse and dynamic world, so it’s very important to build teams that reflect that diversity,” he said.
Masupe believes that these values—empowerment, humility and inclusiveness—are key to maintaining a strong corporate culture and achieving long-term growth.
LONG-TERM VISION FOR BOTSWANA
Looking ahead, Masupe has a clear vision for the Bank’s future. “I believe Standard Chartered Botswana will remain as the leading international bank that drives sustainable and high-impact growth in Botswana,” he said.
Digital transformation will continue to be a major focus, with the Bank investing in technology and data to improve customer satisfaction and their banking experience.
But above all, Masupe sees people as the future of banking. “I envision a fit-for-the-future workforce that is highly skilled, digitally fluent, and deeply aligned to our values.”
The Bank aims to continue investing in local talent and promoting diversity. “Ultimately, we will position Standard Chartered Botswana not just as a Bank, but as a long-term growth partner—helping individuals, businesses and communities thrive in an increasingly complex and interconnected world.”
