Economies are much like a river—constantly flowing, adapting to their environment, and reshaping
the landscape over time. Just as a river never remains static, so too do economies evolve, influenced
by internal and external forces. Nowhere is this more apparent than in the development of Special
Economic Zones (SEZs) across Africa.
These zones, designed to attract foreign investment and stimulate economic growth, are pivotal to
the continent's diversification efforts. In Botswana, the recent launch of the Airport City Special
Economic Zone is a prime example of this transformative potential, aimed at fostering industries
such as diamond beneficiation, pharmaceutical production, medical devices, and logistics services.
As a platinum sponsor of this initiative, Stanbic Bank Botswana is committed to playing a crucial role
in this transformation, that of financiers and catalysts for growth.
We have been financing dreams in Botswana for over 30 years, operating with a purpose that
resonates deeply—“Botswana is Our Home, We Drive Her Growth.” This message reflects more than
a commercial statement; it encapsulates a dedication to fostering sustainable economic growth that
benefits not only our clients but the entire country. As part of Standard Bank Group, the largest bank
on the African continent by assets, we have supported infrastructure projects, financed SMEs, and
preserved wealth for millions. We are deeply rooted in Africa’s growth narrative, and through our
extensive presence in 20 sub-Saharan markets and five global financial centers, we are well-
positioned to drive economic development in SEZs like Airport City.
So why Special Economic Zones?
For a country like Botswana, historically dependent on diamonds, the need for diversification is
critical. We see this in Government’s own diversification strategy. SEZs offer a launchpad for new
industries, driving export-led growth while encouraging small, medium, and micro enterprises
(SMMEs) to thrive through backward and forward linkages in the economy. As financiers, we
recognise the immense potential of SEZs to spur economic transformation and industrialisation,
making them an attractive proposition for both local and international investors.
But beyond the surface, the question remains: How can we truly drive private-led, inclusive, and
sustainable economic transformation through SEZs? The financial sector, particularly banking
institutions, plays an integral role.
At Stanbic Bank, we believe our long-term success is tied to the wellbeing of Botswana. As a financial
institution, our responsibility extends far beyond the provision of products and services. We are here
to support the nation’s future, creating the conditions necessary for sustainable economic growth
through a clear and purpose value creation strategy and acting as catalysts for change.
The complexity of Botswana’s economic challenges requires more than just funding – it demands
bold, decisive leadership, and collaboration across sectors. As financiers, we are well-placed to
facilitate this. The banking sector has a long history of collaboration in delivering syndicated projects,
both in Botswana and across Africa. These collaborations set a precedent for how industries can
unite to meet complex challenges, particularly in SEZs.
However, funding is just one part of the equation. Stanbic Bank offers a broad range of financial
solutions designed to support industries across SEZs, from corporate and investment banking to
advisory services, risk management, and wealth creation solutions. Yet, beyond these financial
offerings, there is a need for human capital development, innovation, and a culture of collaboration
within and across sectors. These elements are crucial to building a sustainable, export-led economy
that can compete on the global stage.
A shared vision is key. As we look to the future, Botswana must diversify beyond diamonds, a sector
that, while still vital, is facing a declining trend. The Airport City Special Economic Zone is an essential
step in this direction, but to truly succeed, we must ensure that SEZs create opportunities for SMEs,
promote innovation, and drive the development of high-skilled industries. The banking sector is not
only ready but eager to finance this next phase of Botswana’s growth.
Our commitment as financiers goes beyond profit – we are here to drive the inclusive and
sustainable economic transformation that Botswana needs. This requires us, alongside government
and other private sector players, to foster a culture of innovation, bold leadership, and
collaboration. At Stanbic Bank, we believe that every business leader shares in the collective
responsibility to create a future where Botswana is not only resilient but thrives in a diversified
economy.
The future of SEZs in Botswana, and across Africa, rests in the collective efforts of all stakeholders.
As financiers, we are uniquely positioned to drive growth, but this requires collaboration at every
level – from Government policy that creates an enabling environment, to private sector partnerships
that fuel innovation and industry growth. The Airport City Special Economic Zone offers a prime
opportunity for this collaboration, and we at Stanbic Bank are proud to be at the forefront of this
effort.
In the words of David Rockefeller, “Success in business requires discipline and hard work. But if you
are not frightened by these things, the opportunities are just as great today as they ever were.” The
opportunities for Botswana are vast, just as the force and the relief of any mighty river we may liken
our economy to. Through strategic investments, innovative financial solutions, and a commitment to
inclusive growth, we can unlock the potential of SEZs and drive Botswana’s economy beyond
diamonds.
By Chose Modise
