Formally known as Barclays Bank, Absa Bank Botswana has introduced a youth-focused value proposition called Youth Banking.
The proposition is mandated at 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.
The Retail Director of Absa Bank Botswana Valeta Mthimkhulu said the youth value proposition to the market that has the potential to make a real difference in their customer’s lifestyle. “As Absa Bank Botswana, we recognize the incredible role that youth play in our communities.” She added “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.”
The new value proposition aims to provide convenient and affordable banking solutions including the Future U Account, Ignition Account, and the new Graduate Starter Pack.
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.
The Ignition Current Account is directed at young people up to 24 years. This account recognizes 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.
The Graduate Starter Pack is targeted at young adults less than 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.
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.