InstinctBusiness CEO of the Week: Steven Lefentse Bogatsu, Chief Executive Officer, First National Bank Botswana

Steven Lefentse Bogatsu, a seasoned financial executive, has served as the Chief Executive Officer of First National Bank (FNB) Botswana since 2015, steering the institution to prominence within Botswana’s banking sector. With a career spanning over three decades, Bogatsu’s strategic vision and deep expertise in financial management have solidified his reputation as a transformative leader in the African banking landscape.

Bogatsu’s tenure at FNB Botswana, now exceeding ten years, has been marked by innovative leadership and a commitment to driving financial inclusion and operational excellence. Under his guidance, FNB Botswana has strengthened its market position, leveraging digital transformation to enhance customer experiences and expand service offerings. His ability to navigate complex economic environments has ensured sustained growth and resilience for the bank.

Under his watch, FNB Botswana’s 2024 Integrated Annual Report reflects a strong financial performance marked by a 28.6% rise in profit before tax to P1.8 billion (over $132 million), up from P1.4 billion ($102.7 million) in 2023. This growth was driven by normalized credit losses and robust non-interest revenue from foreign exchange and transaction volumes.

Additionally, Bogatsu emphasized FNB Botswana’s dedication to ESG principles, integrating sustainable practices into the bank’s operations. Bogatsu has driven FNB Botswana’s focus on pioneering digital banking solutions in 2024. Initiatives like CashPlus and Bank on Wheels have promoted financial inclusion, providing accessible banking services to underserved communities.

Before his current role, Bogatsu served as CEO of First National Bank of Swaziland, where he honed his skills in leading diverse teams and implementing customer-centric strategies. His earlier roles within FNB included Director of Product Houses, overseeing asset creation, and Chief Financial Officer, where he managed financial operations with precision and foresight.

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Bogatsu’s career also includes significant positions outside FNB. As Head of Finance at Stanbic Bank Botswana, he streamlined financial processes, enhancing operational efficiency. His role as Financial and Business Analyst at Barclays Africa Finance further sharpened his analytical acumen. Earlier, at Kgalagadi Breweries, a subsidiary of SAB, he progressed through roles including Project Accountant, Management Accountant, and Group Internal Auditor, demonstrating versatility across financial disciplines.

Bogatsu’s professional journey began at Ernst & Young, where he served as an Audit Senior, laying a strong foundation in auditing and financial governance. His extensive experience across banking, finance, and corporate sectors, coupled with a proven track record of leadership, positions him as a pivotal figure in shaping the future of FNB Botswana and the broader financial industry in Africa.

InstinctBusiness Magazine’s recognition celebrates top-performing executives globally, honouring exceptional leadership, innovation, and transformative impact across diverse industries.