Rand Merchant Bank Botswana

Rand Merchant Bank Botswana

RMB’s corporate and investment banking activities in Botswana will be separately branded RMB Botswana.  Previously housed in FNB Botswana, which will continue to operate its retail and commercial banking activities under the FNB brand, the corporate and investment banking services will now be provided to clients under the RMB brand.  This supports RMB’s strategy of growing corporate and investment banking activities in sub-Saharan Africa, with Botswana being an important market in this region.


“Botswana is one Africa’s fastest growing economies with year-on-year GDP growth of 7.4% in the second quarter of 2013, up from 3.3% in the previous quarter, and FirstRand sees the country as an important part of our Africa strategy,” says FirstRand chief executive Sizwe Nxasana. “The introduction of RMB Botswana supports our objective to expand our franchise into sub-Saharan Africa.”

“Botswana is an important destination for miningcompanies as the country is rich in copper, nickel, diamonds, coal and platinumresources, areas in which RMB has a broad range of expertise. Also, as a developing country, investments in infrastructure and power are ongoing and are sectors in which RMB has extensive experience,” says RMB chief executive Alan Pullinger. “We will continue engaging with both government and the private sector and use our skills and expertise both in Botswana and South Africa to offer the best financialsolutions to our clients in Botswana.”

The team of around 90 people at RMB Botswana, supported by RMB’s extensive resources in South Africa, will offer corporate banking services(working capital finance, custodial services and trade finance); investment banking services (long-term finance of corporate and government enterprises, infrastructure finance, corporate finance advisory services and private equity); as well as global markets services (currency, commodity and interest rate related hedging and investment products). Sectors and clients range from government infrastructure developments, resources and mining to property and entrepreneurs.

“RMB is a global investment Bank offering diversified financialservices. We believe that this rebranding will grant Botswana access to a comprehensive suite of investment banking products and services that will enrich their transactional activities and deliver more value to their businesses. We see particular opportunities in infrastructure finance, mining, retail, state-owned enterprises and government projects,” says FNB Botswana Chief Executive Lorato Boakgomo-Ntakhwana.

RMB Botswana division will be led by, reporting to FNB Botswana Chief Executive Officer, Lorato Boakgomo-Ntakhwana. Olebile Makhupe is responsible for the markets business of RMB Botswana, with Tshepidi Moremong responsible for investment banking and Motswagae directly responsible for corporate banking.

“We intend taking our corporate and investment banking activities in our Botswana operation to the next level,” say RMB investment banking Co-Head Rob Hamer. “As well as growing our existing product base, we will invest in other productswhere we may be underweight to ensure our Botswana client base has access to the best investment banking products and expertise. We will also partner corporate clients looking for opportunities outside Botswana.”


FNB Botswana, a subsidiary of FirstRand Bank in South Africa, is the largest financial institution listed on the Botswana Stock Exchange. RMB Botswana is a division of FNB Botswana, as is Wesbank which is also developing its brand in the country.