- Says it is responding to sector’s access to finance challenges
- Facility comes with a digital zone to serve customers privately
- Minister Gare commends Absa for aligning itself with govt aspirations for SMEs
Absa Bank Botswana has cemented its commitment to growing and investing in small and medium enterprises (SMEs) by launching a dedicated in Gaborone recently.
Absa said its SME Banking Centre – the bank’s second such facility dedicated to the sector in Botswana – is in response to many challenges that the SME sector faces, key among them being access to finance, business management, access to the market, technology adoption and product quality. “These centres, which are geared towards creating a focus in servicing our customers diligently, are managed by a Centre Manager with an SME team comprising Relationship Managers and SME bankers,” said the Managing Director (Acting) of Absa Bank Botswana, Krishnan Menon.
“Additionally, they have a digital zone where customers can access their online banking and dedicated service points designed to serve customers privately.” Menon appealed to the sector to take advantage of the facility as the bank continues to find innovative and purposeful ways to serve it. Also speaking at the launch, the Minister of Entrepreneurship, Karabo Gare, commended Absa for its continued efforts to strengthen SMEs so that they may also become major players in the development and growth of the country.
“I encourage more corporates, particularly those in the financial sector, to emulate the role that Absa is playing in the SME space as it clearly aligns the aspirations of SMEs with the long-term vision of the Government of Botswana,” he said. According to Absa, small businesses are customers whose annual turnover is up to P10 million (classified as the SME portfolio) while medium businesses are customers whose annual turnover is in the range P10 million to P25 million (classified as SME relationship). The SME sector includes wholesale and trade, business services and construction.