In a continued effort to support and grow the local manufacturing industry, Stanbic Bank Botswana is pleased to announce its sponsorship value of two hundred fifty thousand Pula (P250,000.00) for the next three years to the Local Manufacturing Summit. The summit took place on the 6th and 7th of August 2024 at the Gaborone International Convention Centre (GICC) under the theme, “Shaping the Future of Botswana’s Manufacturing Sector.”
This commitment follows the signing of a Memorandum of Understanding (MoU) and partnership with the Botswana Chamber of Mines (BCM) earlier this year. As part of this MoU, the Bank will also provide financial resources in the form of grants totaling up to five hundred thousand Pula (P500,000.00) per year. These grants will be awarded to potential manufacturing entities identified by both BCM and Stanbic Bank Botswana. Additionally, the Bank will offer the use of its Accelerate Incubator to BCM for project facilitation. This is in line with the Bank’s purpose to drive Botswana’s growth, and its Social, Economic and Environmental (SEE) agenda.
“Manufacturing is a pivotal sector for Botswana’s economic growth, not only as a substantial revenue generator but also for its potential to create hundreds of jobs. Our participation in this summit highlighted Stanbic Bank Botswana’s dedication to fostering economic development and supporting initiatives that lead to sustainable growth. Botswana is our home; we drive her growth by making strategic investments, advancing innovation, and empowering local enterprises to thrive in the global market. This, we believe, offers more sustainable value creation,” said Stanbic Bank Botswana Head of Citizen Economic Empowerment Programme (CEEP), Kushatha Chilisa.
The Local Manufacturing Summit is a premier event bringing together key stakeholders from Government, private sector, and academia to discuss strategies for advancing the manufacturing sector in Botswana. The summit was graced by His Excellency President Dr. Mokgweetsi Masisi as the highlight speaker and also featured key industry players. There were panel discussions, and workshops focused on innovation, technology adoption, and policy frameworks essential for the sector’s growth. It serves as a platform for networking, knowledge exchange, and forging partnerships that will drive the future of manufacturing in Botswana, building a stronger local manufacturing base in Botswana, and thus supporting greater industry growth and manufacturing independence and self-sufficiency. This supports Government’s ambitions for greater economic diversity, and the tenets of the National Vision.
“Stanbic Bank Botswana is dedicated to Botswana’s growth, continually seeking opportunities to contribute to the nation’s economic prosperity. Through strategic partnerships and investments, we aim to empower local enterprises, support job creation, and stimulate innovation. By sponsoring the Local Manufacturing Summit and providing financial grants, we reinforce our commitment to building a resilient and diversified economy. This reflects belief in the potential of Botswana’s manufacturing sector and its role in shaping a brighter, more sustainable future for all Batswana,” concluded Chilisa.