This Monday, Purchase Order financing company, Ticano Group opened a branch in Francistown, extending its local footprint to four.
Founded in 2015 by Opelo Motswagae, the company, which also has bases in Gaborone, Palapye and Maun, recently unveiled economic empowerment initiatives for people with disabilities and the health sector aimed at accelerating economic growth.
Addressing the media at their new Ghetto offices in Minestone, Motswagae revealed he was inspired to start Ticano by the desire to ensure Small, Medium and Micro Enterprises (SMMEs) receive value for money.
“I realised the predicament that most SMMEs find themselves in whenever they need access to finance,” he explained, adding turn-over time was one such problem.
“We don’t need much like other financial institutions. Only six documents and assessment and transaction done within 24 hours,” stated Motswagae.
He acknowledged it is generally difficult for small businesses to access finance, which has led to the collapse of many, and loss of business opportunities for some.
“It is upon us as Ticano to ensure the end user is served and SMMEs have access to money whenever they need it. Imagine what happens when someone who has won a tender to supply beans at a primary school does not get funding. Who suffers at the end?” he asked, adding that while they’re flexible in the way they serve clients, they don’t hand out cash haphazardly.
“We only deal with suppliers. Tell us what you need and we’ll pay for it.”
Meanwhile, Francistown Mayor, Godisang Radisigo commended the Ticano leadership for investing in the city.
“We’re the gateway to the north, and this includes to other SADC countries. It is not a secret that SMMEs fail because of lack of support and it is humbling to see entities such as Ticano filling that gap,” said Radisigo, urging Francistowners to take advantage of their services.
“They’ve brought a modern financing model to your doorstep!”