Jaanong le ka boloka, la akola mmogo
First National Bank Botswana (FNB Botswana) is pleased to announce the introduction of the FNB Motshelo Savings Account, a solution designed to support and enhance one of Botswana’s most cherished and longstanding cultural practices, motshelo, the tradition of communal savings.
For generations, motshelo has been a trusted way for Batswana; from young professionals, top executives, masika, ditsala, our parents and grandparents to pool resources, support one another, and achieve shared common goals. This spirit of collaboration and community sits at the heart of the new FNB Motshelo Savings Account, which offers a secure, transparent, and convenient way to facilitate modern group savings.
Speaking on the introduction of the new account, FNB Retail Director, Ms. Monkgogi Mogorosi, expressed her enthusiasm about the product launch.
Whether you want to save for social events and milestones such as, a baby or bridal shower, stag party, invest in assets such as building property, small stock farming, a sediba syndicate, or a girls trip the FNB Motshelo account can help.
She stated that motshelo remains a vital financial and social practice for Batswana from all walks of life and emphasised that this product will provide a secure, transparent, and digitally enabled formal banking solution that supports this way of life.
“Re le bantsi re mo metshelong. FNB is here to help. Now more than ever, coming together to save for a common goal is critical. Whether you want to save for social events and milestones such as, a baby or bridal shower, stag party, invest in assets such as building property, small stock farming, a sediba syndicate, or a girls trip the FNB Motshelo account can help. What sets the FNB Motshelo Savings Account apart is our ability to combine tradition practices with digital empowerment. From transparent notifications via inContact alerts, full visibility of the account activities and balances to all members, the ease of adding and removing additional members digitally to competitive interest rates you don’t want to miss out. Call your friends and family and formalise your community money matters.”
She added that this solution reinforces the Bank’s commitment to listening to client needs and developing solutions that fit naturally into the everyday lives of Batswana.
The FNB Motshelo Savings Account is designed to complement and elevate the way Batswana save money together by offering:
• Zero monthly account fees
• Free ATM/ADT deposits
• Interest of up to 3.35% per annum
• P2.5 million maximum account balance
• Free Payouts to members’ bank accounts or eWallets (standard fees apply)
This solution ensures that while group savings remain rooted in tradition, the experience is digital and modern.
To open an FNB Motshelo Savings Account, groups are required to nominate three (3) signatories responsible for operating the account. All signatories must be FNB banked and fully compliant with Know Your Customer (KYC) requirements. Additional members up to sixteen (16) may be added digitally by the signatories. All members must be 18 years or older and must also be FNB banked.
She added that this solution reinforces the Bank’s commitment to listening to client needs and developing solutions that fit naturally into the everyday lives of Batswana.
The FNB Motshelo Savings Account is available immediately across all FNB Botswana branches.
For more information, clients may contact:
• FNB Website: www.fnbbotswana.co.bw
