Stanbic commits P2.25m to CEEP
Mbongeni Mguni | Wednesday April 3, 2024 11:18
In a statement, the bank noted that it had signed a Memorandum of Understanding with the BCM to help drive sustainable economic growth and development.
The partnership has a particular focus on advancing the economic pillar through value chain development, which will see a merging of Access to Mentorship, Access to Funding and Support. Stanbic CEO,
Chose Modise, said the mining industry holds a special place in the country’s economy, serving as a cornerstone of growth, employment, and revenue generation.
''We are excited about the journey ahead with BCM. 'Together, we will navigate challenges, seize opportunities, and build a brighter, more sustainable future for Botswana,' he said.
Stanbic will provide financial resources in the form of grants worth P500,000 per year to entities that have been identified by BCM and Stanbic as potential manufacturers with confirmed off-takers. Stanbic will also provide BCM with P250,000 per year in sponsorship towards the Annual Local Manufacturing Summit.
The bank will also accord BCM and beneficiaries use of its state-of-the-art Accelerate Incubator in Gaborone.
BCM CEO, Charles Siwawa, said the partnership will facilitate greater access to financial resources and expertise for mining companies.
'This partnership will facilitate greater access to financial resources and expertise for mining companies, supporting their efforts to invest, innovate, and operate sustainably. 'Together, we aim to create a conducive environment for growth and prosperity in the mining sector,' he said.