Barclays hosts retailers market day

Barclays Bank Botswana has this year organized the retailers market day event to enable consumers to interact with local retailers and wholesalers. According to Barclays Bank Botswana Head of Local Corporates, Kagiso Moloi said, the platforms offer the retailers an opportunity to showcase their products to existing and prospective customers. “In Botswana there is no opportunity for retailers to showcase their products and through this exhibition we have partnered with local retailers to showcase their products and interact with consumers,” said Moloi.Major retailers including Sefalana, Fours, Choppies, Trade World and other supermarkets, gathered under one roof to sell and promote their products. Moloi explained to this publication that as a bank they have observed a trend in which Batswana spend a lot of money buying groceries in bulk by the end of the year.The bank has therefore come up with tailor made solutions for their customers. As the year ends, most Batswana will flood local supermarkets and wholesalers to buy groceries through Motshelo, an informal group savings scheme. “Consumers bank with us through our Motshelo account and the retailors also bank with us so we want all our customers to benefit from our services”, he said. Motshelo group savers account requires P500 opening deposit, a minimum of three members, Omang or passports of two signatories, proof of residence and names as well as a confirmation by members of the club. In return, the members receive free P2, 000 accidental cover for 10 members, a cheque book, monthly statements, SMS alert. The product enables Batswana to shift from informal and risky methods of saving money. Moloi pointed out that Barclays Retailers Market Day will be an annual event and will include local manufacturers and suppliers next year.