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Absa Bank Botswana unveils exciting new youth-targeted value proposition

Valeta Mthimkhulu
Retail Director- Absa Bank Botswana

In a bid to further support youth customers in their growth and aspirations as they transition into adulthood, Absa Bank Botswana has introduced a youth-focused value proposition dubbed Youth Banking. The proposition aims to focus on meeting the multi-faced needs of young customers from the ages of 0-30. The new offering provides access to a suite of solutions to serve their transactional and savings needs, as well as borrowing and protection needs as their financial sophistication grows and they reach different stages of their life.

“We are excited to bring a youth value proposition to the market that has the potential to make a real difference in our customers lifestyle. As Absa Bank Botswana, we recognise the incredible role that youth play in our communities. We acknowledge that they are the backbone of any society and hence play an active role in the economic development and growth of our nation. In this regard, we are always looking for purposeful ways to support them in their aspirations,” said Valeta Mthimkhulu, Retail Director Absa Bank Botswana.

The new value proposition aims to provide convenient and affordable banking solutions including the FutureU Account, Ignition Account, and the new Graduate Starter Pack.

For the young saver

The Future U Savings Account is made for young people between the ages of 0-18. This account allows parents to save for their children’s future while they are young from only P50 with no maintenance fee. This offers them the opportunity to grow their savings while they also grow.

Account features:

  • Free first debit card
  • Interest paid out on a quarterly basis
  • A worldwide accepted VISA debit card
  • Bonus education interest if no withdrawals are made in a quarter
  • Discounts at Absa partner stores

For the young transactor

The Ignition Current Account is directed at young people up to 24 years. This account recognises that users have reached an age where their tastes have become more distinct, and they demand more control of their life. It comes with a free debit card that allows them to make purchases on the move and track their spending, free mobile banking anywhere at any time as well as free access to the Youth Hub to get them ready for the next chapter of their growth.

Account features:

  • Up to 50% discount when swiping debit or credit card at any of Absa merchant partners
  • A worldwide accepted VISA debit card
  • Interest on credit balances of up to 1% paid monthly
  • Free SMS alerts and eStatements
  • Access to mobile and online banking and Abby

For the young adult

The Graduate Starter Pack is targeted at young adults under 30 years; these are youth who have graduated and are looking to move on to the next stage of their life. This is the ultimate bundle that will set them up so they can keep growing into the life they envision.

Account features:

  • Graduate loan up to P75,000
  • Credit card with a starting limit of P2,000
  • Free P5,000 funeral insurance cover
  • Free P10,000 accidental funeral cover
  • Free point-of-sale transactions
  • Free first debit card
  • Free online and mobile banking
  • Free ATM withdrawals and SMS alerts
  • A worldwide accepted VISA debit card

Free Access to our Mobile Banking App

Mobile data is on us for all Mascom users and will be free for other networks soon.

Rewards and Discounts

Absa Youth Banking also qualifies customers for discounts of up to 50% from some of their favorite stores, restaurants, pharmacies, and cinemas when they use their debit card.

Youth Hub

Additionally, as part of the Bank’s commitment to making a substantive contribution towards youth employability in Botswana, the Absa Youth Banking offers access to the Bank’s Skills and Development programmes; The Career Development Programme and ReadytoWork. The Youth Hub offers online career development programmes that focus on upskilling youth and assisting them with becoming employed. The specific services provided include career services programme such as CV writing, interview tips, email & SMS Job notifications, preparation for aptitude tests, industrial training, and internships. The ReadytoWork programme features 4 modules, namely: Entrepreneurial Skills, People Skills, Work Skills and Money Skills.

“Part of our commitment as Absa Bank Botswana is building and creating a friendly banking environment for our youth. Our goal is to expand access to tailor-made financial services to the youth that enable them to make sound financial choices now and well into their future. As a bank, we remain committed to offering innovative financial solutions that bring possibilities to life, “concluded Mthimkhulu.

 

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