official opening of botswana savings bank limited hukuntsi branch keynote speech by moses d pelaelo governor, bank of botswana november 30, 2020 salutations it is with great pleasure and honour for my delegation and i to be joining the hukuntsi community and the managing director of botswana savings bank ( bsb ) and his staff for the official opening of a branch here in hukuntsi. director of ceremonies, let me mention that i gladly accepted the invitation from the managing director, mr marumuloa, to perform the official opening because of the significance of this occasion to the people of this region, which extends beyond the narrow confines of a bank branch building. first, it is important to acknowledge that, save for the botswana postal services, this is the first permanent physical branch of any bank in hukuntsi and the surrounding matsha villages. hitherto, notwithstanding its population, geographic size, proximity to wildlife conservation areas, importance of cattle farming, as well hosting many government and subdistrict facilities, the entire kgalagadi north constituency had only one bank branch in kang and two atms providing financial services. therefore, the opening of this branch is expected to make a huge beneficial impact to the inhabitants of the area, many of whom have historically had little or no access to formal financial services. second, the opening of a bsb branch in this area within two weeks of that of the palapye one by the minister of finance and economic development, honourable dr thapelo matsheka, is a clear demonstration of commitment and forward - looking business strategy on the part of bsb towards expansion and provision of convenient access to banking services in towns and villages, while meeting commercial objectives. third, the development we are celebrating today is fully aligned and resonates well with the government strategy on financial inclusion. the strategy, making access possible, is designed in recognition that cost - effective access to financial services by all citizens is positive for financial sector development and inclusive economic growth. access to banking and financial services eases the ability to meaningfully pursue economic activities that are desirable for individual welfare enhancement, employment creation, raising living standards, and, hence, sustainable national economic development. as you would be aware, financial inclusion is part of the united nations sustainable development goals number 8 on decent work and economic growth. financial inclusion and value addition director of ceremonies, financial inclusion has, at a minimum, four elements, namely, access to a savings account, credit, insurance,

skills transformation, among others. i suggest that, to sustain medium to long - term prospects for the economy, diversified and inclusive growth and transition to high - income status, policy should focus on raising potential growth through structural and fiscal reforms, while maintaining sound macroeconomic policy frameworks and a stable financial sector, as well as rebuilding buffers to boost resilience. the 2018 theme topic is, therefore, a contribution in this regard. distinguished ladies and gentlemen, allow me to introduce to you my colleagues here in the room and, thereafter, call upon the chief financial officer, mr daniel loeto to kick - start the presentations. i thank you for you kind attention.