Stanbic Bank and Debswana Partner on a P1 million grant to SMMEs

Stanbic Bank Botswana in collaboration with Debswana have agreed on a P1 million grant for Small, Micro and Medium Enterprises (SMMEs) each year for a period of five years .

The two entities already have a partnership for Citizen Economic Empowerment (CEEP) where the financial institution avails funds to citizen owned companies contracted to Debswana.

Stanbic Bank Botswana will therefore support small businesses in Jwaneng and surrounding localities with the grant which also aids Debswana’s efforts to empower marginalised communities.

Rubber stamped with signing of a Memorandum of Association (MoA) by the two entities, the grant will provide contribution towards development of small businesses in the informal sector, differently-abled individuals, women and youth owned businesses.

Debswana Jwaneng Mine Acting General manager, Goitseone Gadifele said the grant will come in handy in terms of improving the lives of local entrepreneurs and igniting dreams for start-ups and existing businesses.

“Partnerships and initiatives such as this one are pivotal to fostering inclusion of all citizens to meaningfully participate in economic activities that create solutions to present challenges and create much needed employment in mining communities. This partnership reaffirms our dedication to our core values. I anticipate that we will see even more positive results in the months and years ahead. These results will serve as a testament to our commitment to Botswana’s social fabric and our unwavering determination to foster economic growth in our nation,” said Gadifele.

Part of the grant will be used for training and mentoring, a key aspect to ensuring that beneficiaries are able to run sustainable businesses which can exist for years to come.

“We want to help seemingly forgotten small and micro businesses in the community by providing them with grants. In addition to the grant, we will be giving them capacity building in the form of mentorships. We will be handholding them, it is not a case of giving them money and walking away. We will work together with Debswana and other stakeholders to ensure the success of these businesses” said Stanbic Bank Botswana Head of Citizen Economic Empowerment Programme, Kushatha Chilisa.

The Debswana Jwaneng Mine operations has over the years invested in comprehensive socio-economic development and citizen economic empowerment programmes with the intent to leave a positive lasting impact in its area of influence.

Through CEEP, Debswana has made significant strides in providing a conducive environment for SMME growth through strengthening citizen owned business entities, and prioritising procurement from local entities.

As a result that has created employment opportunities and cultivated economic diversification in Jwaneng and surrounding areas.