This brings the number of Afritec branches across the country to 32, in addition to the kiosks across Furnmart stores countrywide. The branch’s opening comes at a time when the microlender increased its loan ceiling from P350,000 to P400,000.
According to CEO Christo Kloppers, Afritec today boasts of 20,000 revolving clients, mostly government employees with the recent addition of Gaborone City Council and a commercial bank.
“Our strategy is to continue to tie up more Councils and Land Boards to Afritec’s portfolio of clients,” he said.
Afritec has chosen to set itself apart from the market by doing away with administrative fees, handling fees and insurance charges for their loans, in the process enabling their loan products to be attractive to clients.
“As long as we deduct money from source, as we do, clients do not need to be burdened with these charges. At Afritec we just do not believe in those charges; we believe in a good repayment culture in Botswana because we sign the loan agreement with the employer,” Kloppers said.
is also playing its part in empowering women as a majority of them are in managerial positions. One testimony is of the area manager, Tetlo Phitshana, who first joined the company 10 years ago as a loan clerk.
“I opened that shop at the Station in Gaborone, and progressed to be the branch manager and now I am the area manager. It has been a rewarding journey and I am looking forward to many more years to come. On average our branches make P2 million in a month, we are really making an impact in the market,” Phitshana said.
The Molepolole branch also opened doors for another local woman, Gosetseone Seosenyeng who has been managing the Afritec kiosk housed at the Mafenyatlala Mall since 2012. “I am over the moon about the promotion that effected in August this year, it was a reward of the hard work I have been showing,” she said. Seosenyeng said prior to this move, her kiosk had been making 2.25% above the target, noting that she sees the newly opened branch being able to make P3.5 million a month.