MMG Khoemacau and Absa Bank Botswana have entered into a strategic partnership aimed at improving access to finance and enterprise development for citizen-owned small and medium-sized enterprises (SMEs) participating in Khoemacau’s Citizen Economic Empowerment Programme (CEEP).
The partnership, formalised through a Memorandum of Agreement (MoA), brings together the two institutions’ Citizen Economic Empowerment and Enterprise Supplier Development initiatives to provide coordinated support for the growth and sustainability of citizen-owned businesses.
The collaboration seeks to address barriers to SME participation in the mining value chain by providing financial solutions, business development support, advisory services and capacity-building initiatives. The partners said the programme will help citizen-owned enterprises strengthen their capabilities and position themselves to benefit from opportunities linked to MMG Khoemacau’s operations. The initiative also aligns with Botswana’s economic empowerment objectives by promoting citizen entrepreneurship, increasing local participation in the mining sector and enhancing the capacity of local businesses to contribute to economic development.
“For Absa Bank, this collaboration demonstrates our commitment to creating meaningful impact in the markets in which we operate. It reinforces our strategic focus on providing SMEs with access to tailored funding solutions, capacity-building support and market opportunities, while supporting the growth and development Botswana’s SME sector. This partnership also builds on Absa Bank Botswana’s recognition as the country’s Best SME Bank, reaffirming our continued focus on delivering meaningful and sustainable value to small and medium-sized enterprises.”
“This partnership reinforces Absa’s commitment to supporting citizen-owned businesses through access to finance, capacity building and market opportunities,” said Keabetswe Pheko-Moshagane, Managing Director of Absa Bank Botswana. “By working together with MMG Khoemacau, we are supporting SMEs connected to the mining ecosystem and contributing to Government’s vision for citizen economic empowerment and sustainable economic growth.
“For Absa Bank, this collaboration demonstrates our commitment to creating meaningful impact in the markets in which we operate. It reinforces our strategic focus on providing SMEs with access to tailored funding solutions, capacity-building support and market opportunities, while supporting the growth and development Botswana’s SME sector. This partnership also builds on Absa Bank Botswana’s recognition as the country’s Best SME Bank, reaffirming our continued focus on delivering meaningful and sustainable value to small and medium-sized enterprises.”
Wei Gao, Finance Director at MMG Khoemacau, said the partnership is closely aligned with the company’s Citizen Economic Empowerment Programme.
“Our partnership with Absa Bank Botswana is closely aligned with our Citizen Economic Empowerment Programme (CEEP), which is focused on strengthening the financial capacity and long-term sustainability of citizen-owned contractors and suppliers,” Gao said.
“Access to finance is an important enabler of meaningful participation in the mining value chain. By combining financial solutions with enterprise development support, this partnership will help businesses build the capacity needed to execute contracts effectively and pursue sustainable growth.
“The partnership also supports the Government of Botswana’s broader objective of advancing economic transformation through meaningful citizen participation, enterprise development and increased local value creation. We are pleased to embark on this journey with Absa Bank Botswana as we work to strengthen the capacity of citizen-owned enterprises to participate sustainably in Botswana’s mining economy.”
