One of Botswana largest bank, First National Bank of Botswana (FNBB) has appointed Steven Bogatsu as its new chief executive officer.

Botsagu takes over from Lorato Boakgomo-Ntakhwana who was reassigned to take up a new post at the bank’s Johannesburg headquarters last year.

Before his latest appointment, Bogatsu has served as the CEO of FNB Swaziland. He was forced to relinquish his role as the bank was under pressure from the central bank to appoint a local executive as CEO.

Bogatsu brings a wealth of banking experience gained from various leadership positions both locally and abroad. During his tenure as FNB Swaziland CEO, the bank affirmed its position the country’s most profitable bank, leading to a host of awards including the London-based Banker’s Bank of the Year Award-2014. Bogatsu also held a number of senior leadership positions at FNB Botswana such as the CFO and Director of Product Houses, responsible for property finance.

Linah Mohohlo, the Governor of the Central bank of Botswana, approved Botsagu appointment, though he noted that routine referrals of business decisions to headquarters in South Africa impede timely and proactive service delivery which could affect efficiency and competitiveness.

By George Mpofu