Stanbic Bank Botswana Drives CEEP Agenda Through MoU with Botswana Chamber of Mines

Stanbic Bank Botswana is pleased to announce a flagship CEEP partnership with Botswana Chamber of Mines (BCM), uniting to drive sustainable economic growth and development. Through this partnership, with a Memorandum of Understanding signed on 28 March 2024, the Bank reaffirms its commitment to our Social Economic and Environmental (SEE) strategic agenda. This is with a particular focus on advancing the Economic pillar through value chain development, which sees a merging of Access to Mentorship, Access to Funding and Support.  The cumulative support and partnership will see Stanbic Bank invest approximately BWP2,250,000.00 over 3 years, from 2024 – 2026. 

“The mining industry holds a special place in Botswana’s economy, serving as a cornerstone of growth, employment, and revenue generation. Recognising its importance, we are committed to playing a proactive role in supporting the sector’s continued success and sustainability,” said Stanbic Bank Botswana Chief Executive, Chose Modise.  “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.”

The Bank’s investment is broken down as follows:

·       Stanbic Bank will provide financial resources in the form of grants worth BWP500,000.00 (per year) to entities that have been identified by BCM and Stanbic Bank as potential manufacturers with confirmed off-takers.

·       Stanbic Bank shall accord BCM and beneficiaries use of the state-of-the-art Accelerate Incubator in Gaborone

·       Stanbic Bank will also provide BCM with BWP250,000.00 per year in sponsorship towards the Annual Local Manufacturing Summit.

Said Stanbic Bank Botswana’s Head of Citizen Economic Empowerment (CEEP), Ms. Kushatha Chilisa, “This is an exciting new chapter in our CEEP journey. Through this partnership, we hope to demonstrate our commitment to supporting the growth and development of this vital sector and drive impact. This is how we make a tangible impact in citizen economic empowerment in a sustainable way.”

Botswana Chamber of Mines provides a forum for discussion of all matters of common interest to the mining sector and to coordinate advocacy activities of the mining industry. Since inception, its roots have been based on promoting the interests of the mining industry, protecting the image of the industry and contributing positively to the socio-economic development and growth of Botswana.

Said Botswana Chamber of Mine’s Chief Executive Officer, Mr. Charles Siwawa, “We are delighted to collaborate with Stanbic Bank in our efforts to drive economic growth and development in Botswana’s mining industry. 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.”