News of Steve Bogatsu’s ascendance to the Chief Executive Officer (CEO) position at FNB Botswana caused a positive impact on company’s share price, rising by Five Thebe on Monday to end the day trading at 375 Thebe per share. His appointment has been approved by the Bank of Botswana governor, Linah Mohohlo. Bogatsu takes over from Lorato Boakgomo-Ntakhwana who left the bank in December. He will start work on the 1st of May 2014.
He becomes the second Motswana to lead the bank following his past immediate predecessor. Until his appointment he was the CEO of FNB Swaziland. He has previously worked for FNBB as where he held positions of Chief Financial Officer (CFO) and Director of Product Houses, responsible for Property Finance, Wesbank and Credit Card among other roles.
He is expected to bring wealth of banking experience to FNBB having held several leadership positions here and abroad. He arrives at FNBB from FNB Swaziland where he held the position of CEO. During his time at Swaziland, it is reported that the bank affirmed its position as number one in terms of profit, won several awards including the London-based Banker’s Bank of the Year Award 2014.
His next role at FNBB will be to provide strategic direction and leadership focus for the bank and will be accountable to the FNBB board of directors and shareholders on the performance of the business. He will also be responsible for developing, communicating and aligning FNBB’s business strategy to achieve key business deliverables while leading and managing the bank.
Bogatsu arrives at a time when FNBB’s profits have been increasing. It is the leading public-listed company with a total market capitalisation of P9.5 billion.