Stanbic, BCM capacitate entrepreneurs in manufacturing

With start-up capital identified as one of the key challenges faced by entrepreneurs venturing into manufacturing, Stanbic and Botswana Chamber of Mines (BCM) have partnered to offer capacity building.

According to the bank, the partnership is geared towards driving sustainable economic growth and development.

“Through this partnership, we will also provide grant funding to potential manufacturers identified for support,” said Stanbic Chief Executive Officer, Chose Modise.

He said the partnership will serve as a catalyst for growth, transformation, and excellence in the mining industry.

“Together, we will navigate challenges, seize opportunities, and build a brighter, more sustainable future for Botswana,” he said. The cumulative support and partnership will see Stanbic Bank invest approximately P2, 250,000.00 over three years, from 2024 – 2026. Modise said 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.”

In addition, he said the partnership reaffirms the bank’s commitment to social economic and environmental (SEE) strategic agenda, with a particular focus on advancing the economic pillar.

“We believe that by aligning our efforts with the Botswana Chamber of Mines, we can leverage our collective expertise, resources, and networks to drive positive change and create lasting value for all stakeholders,” said Modise.

The Botswana Chamber of Mine’s Chief Executive Officer, Charles Siwawa said the collaboration is targeted at driving 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, innovates, and operates sustainably. Together, we aim to create a conducive environment for growth and prosperity in the mining sector,” said Siwawa.

Meanwhile, Stanbic will avail its Accelerate Incubator as a place to hosts thought leadership and workshops on industry development and support the annual Local Manufacturing Summit hosted by Botswana Chamber of Mines.