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Advancing Botswana Citizen-Owned Enterprise Participation in the Mining Sector, Through Access to Funding and Markets.

 The current global macroeconomic environment requires urgent and responsible corporate citizenship. With access to funding being one of the greatest challenges facing entrepreneurs, active and relevant support is required for citizen-owned companies to assist by exponentially scaling within and beyond the borders of Botswana.

Morupule Coal Mine and Access Bank commit to this support by providing the required tangible market access opportunities and funding solutions to Botswanan Citizen-Owned Companies.

On 18 August 2022,Morupule Coal Mine (MCM) and BSE-listed Access Bank Botswana, the local arm of one of Africa’s largest retail banks, announced a strategic partnership that will provide financial support and solutions to Citizen-Owned businesses through the Citizen Economic Inclusion Programme. The partnership pledges access to funding solutions in excess of BWP 300 million and access to markets within the mining and energy sectors and is testimony to the commitment of both organisations towards sustainably driving economic growth and development in Botswana.

Small to medium-sized enterprises represent a significant portion of emerging market economies. In Africa, and Botswana specifically, communities depend on the entrepreneurs and the income they generate. Most importantly, SMEs are a key driver of inclusive economic growth, serving as one of the fundamental reasons why both Morupule Coal Mine and Access Bank prioritise such empowering initiatives.

Through the strategic partnership, Access Bank will be offering financial support to Morupule Coal Mine’s Citizen-Owned Business Partners through access to capital which should ensure the sustainability of their enterprises. Additionally, the funding will support Morupule Coal Mine’s Citizen-Owned Business Partners produce compelling products and services to meet the company’s current needs, as well as support the company’s growth as energy demand increases globally.

From Seam to Energy, Morupule Coal Mine has been delivering value to its stakeholders since 1973. By creating a focus on smart Coal Mining, and through its expansion strategy; MCM remains resolute in continuing to positively contribute to the socio-economic growth of Botswana present and future.

Morupule Coal Mine General Manager, Edwin Elias commenting on the partnership, highlighted that, “Citizen Economic Inclusion (CEI) has always been at the heart of our operations in various ways and continues to form part of our expansion endeavors as a business. It is for this reason that the establishment of a dedicated CEI Office was intentional. The MCM Citizen Economic Inclusion Programme, spearheaded by a passionate and competent team, exists to serve Botswanan-Owned Business Partners through such strategic partnerships. Identifying a partner aligned with our sustainability objectives was crucial. As MCM, we are very pleased to partner with Access Bank in our journey of Citizen Economic Inclusion, as funding and the access thereof, is a critical success factor”.

Through specialist advice, insights, and experience from decades of banking across the globe, Access Bank has been facilitating the sustainable growth of its stakeholders. By establishing and maintaining strong partnerships and alliances, Access Bank reinforces its commitment to supporting long-term, sustainable empowerment of Botswana.

“Our partnership with Morupule came naturally, given our synergies regarding supporting and empowering SMEs. Supporting local businesses will remain a cause close to our hearts as we appreciate the role they play in shaping Botswana’s growth agenda, employment, social cohesion and ultimately improving the quality of life among the previously disadvantaged communities. As a financial solutions partner, we pride ourselves in our clients’ successes, therefore we are delighted to be part of such an impactful programme,” said Pauline Motswagae, Access Bank Botswana Head of Wholesale Banking.

The partnership is in line with the national, regional and global policy frameworks such as the Citizen Economic Inclusion Act No. 26 of 2021 as the Republic of Botswana drives towards “Achieving Prosperity for All” as espoused in the national Vision 2036.

 

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