MCM, Bank Gaborone collaborate in P100 million deal to empower citizens
Bank Gaborone and Morupule Coal Mine (MCM) have recently announced a partnership to the tune of P100 million to go towards the mine’s Citizen Economic Empowerment Policy (CEEP).
The partnership which was announced in Palapye will see Bank Gaborone among other solutions, provide financial assistance and mentoring to selected entities.
The collaboration according to the two parties, is to help contribute meaningfully to the economic diversification agenda of the country and create alternative livelihoods to mining industry and livelihoods.
Speaking at the signing ceremony, MCM General Manager, Edwin Elias, said the mine’s Citizen Economic Empowerment Program is gaining a new traction, with dedicated resources now taking their place for the first time this year at the mine.
It is hoped the collaboration will not only give hope to Small, Medium and Micro Enterprises (SMMEs) and communities but also unleash their potential in a sustained and meaningful manner.
“This is co-creation of hope for new businesses, for existing enterprises, small and large, to grow and take meaningful positions in our economy,” Elias explained.
By way of Memorandum of Understanding (MoU), Elias said MCM is committing to nurture growth of the local SMMEs decidedly, decisively with strong and courageous partnership.
For his part, Bank Gaborone Managing Director, Sybrand Coetzee said the bank is committing a P100 million financial package to the MCM’s CEEP programme.
“Bank Gaborone will in addition, provide mentoring to select entities, in order to help them manage and structure their finances effectively, and to also contribute meaningfully to the economic diversification agenda of the country,” revealed Coetzee.
Coetzee emphasized the partnership actualizes the commitment from both partners to drive the creation of opportunities for citizen suppliers.
“It is our contribution as Bank Gaborone to the socio-economic development of Botswana by supporting and empowering citizen owned companies,” he said.