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Banks are among the most heavily regulated institutions in any economy, making the role of non-executive directors critical to their long-term stability and performance. While executive management is responsible for the day-to-day running of the business, non-executive directors provide independent oversight, challenge management decisions, monitor risk, ensure regulatory compliance, and help shape strategic direction.
Stanbic Bank Botswana's non-executive directors are not paid a fixed salary. Instead, their remuneration is structured around a combination of annual retainers and meeting attendance fees. In 2025, ordinary board members received an annual retainer of P101,333 and a sitting fee of P33,777 for each board meeting attended. Directors who chair the board earned a higher annual retainer of P202,676 and a sitting fee of P50,666 per meeting. Additional compensation is paid for committee work, reflecting the extra responsibilities involved.
Chairs of board committees earned an annual retainer of P67,555 and a sitting fee of P25,334 per meeting, while committee members received a retainer of P51,342 and a sitting fee of P16,889. The Board Audit Committee, which carries particularly significant oversight responsibilities, attracts higher fees, with its chair receiving a retainer of P118,897 and a sitting fee of P42,222. At the same time, committee members earned a retainer of P102,684 and a sitting fee of P33,777. As a result, directors serving on multiple committees or chairing key governance structures typically receive significantly higher remuneration than ordinary board members.
Collectively, Stanbic Bank Botswana's 11 non-executive directors received P10.55 million in remuneration during the 2025 financial year, reflecting their board responsibilities, committee memberships, and governance oversight roles.
Here is a breakdown:
Dr Tebogo T.K. Matome (P1.379 million)
As Chairman of the Board, Dr Tebogo Matome was the highest-paid non-executive director in 2025, receiving P1.379 million. A seasoned executive with expertise in leadership, business development and investments, Matome plays a central role in steering board deliberations, ensuring effective governance and maintaining constructive engagement between directors and management. His experience in financial markets and corporate leadership positions him as one of the key figures responsible for guiding Stanbic's long-term strategic direction.
Batsho Pamela Groth (P1.016 million)
Groth earned P1.016 million during the year. Her background in human resources, remuneration management and organisational leadership provides the board with expertise on executive compensation, talent management and stakeholder engagement. As banks increasingly compete for specialised skills, her experience helps ensure Stanbic remains focused on attracting and retaining critical talent while maintaining sound governance practices.
Butler Phirie (P1.010 million)
Receiving P1.010 million in remuneration, Phirie brings deep expertise in finance, accounting, audit and taxation. His professional background as a chartered accountant strengthens the board's ability to oversee financial reporting, internal controls and regulatory compliance. Such expertise is particularly valuable in a banking environment where financial accuracy and governance standards are under constant scrutiny.
Mark Haskins (P966,931)
Haskins earned P966,931 in 2025. With experience spanning entrepreneurship, credit management and technology, he brings a perspective that blends innovation with commercial discipline. His expertise is particularly relevant as banks continue investing heavily in digital transformation, fintech partnerships and technology-enabled customer experiences.
Larona Somolekae (P941,332)
Paid P941,332 during the year, Somolekae contributes legal, corporate finance and risk management expertise to the board. With advanced qualifications from Oxford University and Harvard Law School, she brings a sophisticated understanding of complex transactions, governance and commercial law. Her presence strengthens the board's oversight of legal and regulatory matters, both of which are increasingly important in the modern banking environment.
Richard Christopher Irvine (P926,029)
Irvine received P926,029 in remuneration. His background in credit management, finance and risk management makes him a valuable contributor to the bank's risk oversight structures. Given that lending remains the core business of commercial banks, expertise in credit risk is essential in ensuring that growth objectives are balanced against prudent risk management.
Michaela Alves Da Silva (P909,659)
Alves Da Silva earned P909,659 in 2025. A chartered accountant with expertise in finance, accounting, audit and corporate finance, she serves on the Board Audit Committee. Her experience supports the board's oversight of financial reporting, audit processes and broader governance responsibilities, helping maintain transparency and accountability across the institution.
Dr Agnes Tsholofelo Khunwana (P909,659)
Dr Khunwana also received P909,659 during the year. Her credentials span business administration, strategic management, finance, audit and ESG. As banks increasingly navigate sustainability reporting requirements and evolving governance expectations, her combination of financial expertise and ESG knowledge provides valuable insight into emerging risks and opportunities.
Mthabisi Bokete (P891,713)
At P891,713, Bokete is one of the younger members of the board but brings highly relevant expertise in technology, cybersecurity, digital marketing and entrepreneurship. His background helps the board evaluate technology investments, cybersecurity threats and innovation opportunities at a time when digital banking has become central to competitiveness in the financial services sector.
Michael Kgengwenyane (P808,331)
Kgengwenyane earned P808,331 in 2025. His experience in engineering, business strategy, entrepreneurship and project management provides a valuable operational and strategic perspective. As a member of the Board Risk Management Committee and Board Information Technology Committee, he contributes to oversight of both technology initiatives and enterprise-wide risks.
Lungisa Fuzile (P790,919)
Fuzile received P790,919 in remuneration. As a senior executive within the broader Standard Bank Group and a former senior public-sector policymaker, he brings extensive experience in banking regulation, fiscal policy, asset and liability management, and macroeconomic governance. His understanding of regulatory environments and financial systems adds significant depth to board discussions on strategy and risk.