Khoemacau Copper Mining and Absa Bank Botswana have entered into a strategic partnership aimed at improving access to finance and enterprise development support for citizen-owned small and medium-sized enterprises (SMEs) participating in Khoemacau’s Citizen Economic Empowerment Programme (CEEP).
The partnership, formalised through the signing of a Memorandum of Agreement (MoA), aligns the two institutions’ citizen economic empowerment and enterprise supplier development initiatives to deliver coordinated support for citizen-owned businesses. The collaboration is intended to enhance access to financing, strengthen business capabilities and promote the long-term growth and sustainability of local enterprises.
The collaboration is designed to help address some of the key barriers affecting the participation and growth of SMEs in the mining value chain. Through access to appropriate financial solutions, complemented by business development support, advisory services and capacity-building initiatives, the partnership aims to help citizen-owned enterprises strengthen their operational and financial capabilities and improve their readiness to execute commercial opportunities arising from MMG Khoemacau’s operations.
The partnership aligns with the Government of Botswana’s broader economic empowerment objectives by supporting citizen entrepreneurship, strengthening local participation in the mining value chain, and enhancing the capacity of local businesses to contribute meaningfully to national economic development.
Commenting on the partnership, Keabetswe Pheko-Moshagane, Managing Director of Absa Bank Botswana, said:
“This partnership reinforces Absa’s commitment to supporting citizen-owned businesses through access to finance, capacity building and market opportunities. By working together with MMG Khoemacau, we are supporting SMEs connected to the mining ecosystem and contributing to Government’s vision for citizen economic empowerment and sustainable economic growth.
“For Absa Bank, this collaboration demonstrates our commitment to creating meaningful impact in the markets in which we operate. It reinforces our strategic focus on providing SMEs with access to tailored funding solutions, capacity-building support and market opportunities, while supporting the growth and development Botswana’s SME sector. This partnership also builds on Absa Bank Botswana’s recognition as the country’s Best SME Bank, reaffirming our continued focus on delivering meaningful and sustainable value to small and medium-sized enterprises.”
Speaking on behalf of MMG Khoemacau Wei Gao, Director Finance, said, “Our partnership with Absa Bank Botswana is closely aligned with our Citizen Economic Empowerment Programme (CEEP), which is focused on strengthening the financial capacity and long-term sustainability of citizen-owned contractors and suppliers.
“Access to finance is an important enabler of meaningful participation in the mining value chain. By combining financial solutions with enterprise development support, this partnership will help businesses build the capacity needed to execute contracts effectively and pursue sustainable growth.
“The partnership also supports the Government of Botswana’s broader objective of advancing economic transformation through meaningful citizen participation, enterprise development and increased local value creation. We are pleased to embark on this journey with Absa Bank Botswana as we work to strengthen the capacity of citizen-owned enterprises to participate sustainably in Botswana’s mining economy.”
The partnership underscores the shared commitment of MMG Khoemacau and Absa Bank Botswana to advancing citizen economic empowerment, fosteringentrepreneurship and strengthening the meaningful participation of citizen-owned enterprises in Botswana’s mining value chain.
