DataEQ has announced the findings of the 2024 Botswana Banking Sentiment Index, which captures consumer sentiment towards eight of the country's top banks.
The Index analysed over 80,000 public social media mentions from July 2023 to June 2024, highlighting customer experiences across various banking touchpoints.
Overall, the banking industry achieved a public Net Sentiment of 11%, performing strongly compared to six other global markets, outpacing Ghana, Saudi Arabia, the UAE, and the UK.
Bank Gaborone achieved the highest Net Sentiment. This was primarily driven by positive customer engagement with content about savings accounts, funeral cover, and investment products. Nearly half of the bank’s operational praise included an acquisition opportunity, with customers showing interest in EasySave and insurance-related products. The bank was also praised for its service charges and customer service.
"Bank Gaborone’s ability to attract and engage potential customers through its content has been key to its success this year, with its product offerings resonating with consumers," said Liska Kloppers, Client Strategy Lead at DataEQ.
First Capital Bank ranked second and benefited from operational praise, with over 50% of these mentions tied to potential customer acquisition opportunities. This engagement was largely driven by loan-based content and informative posts on savings, investments, and lending rates.
Despite an overall positive sentiment for the industry, the Index highlighted a number of areas for improvement. Negative feedback highlighted delays in query resolution and technical issues with mobile and online banking.
Access Bank, while achieving a positive overall Net Sentiment, ranked lowest in Operational Net Sentiment, with a score of -10%. Nearly a quarter of its complaints were due to poor digital experiences, with customers complaining about system downtime and mobile banking issues.
The report found that only 12% of priority customer posts on X (formerly Twitter) received responses from banks, the lowest among markets analysed.
“This poor response rate represents a missed opportunity for banks to engage with and service their customer base on a platform that works for them,” said Liska Kloppers, Client Strategy Lead at DataEQ. “Proactively addressing customer feedback on digital channels not only builds trust but also meets customers where they are—a crucial approach in today’s competitive banking environment. By prioritising prompt responses and investing strategically in digital infrastructure, banks can turn these challenges into growth opportunities and see marked improvements in operational sentiment.