The Local Enterprise Authority (LEA) and Absa Bank Botswana have signed a Memorandum of Understanding (MoU) establishing a strategic partnership aimed at strengthening and accelerating the development of the Small, Micro and Medium Enterprise (SMME) sector in Botswana, with a focus on competitiveness and sustainability.
The collaboration brings together the complementary mandates of the two institutions to deliver coordinated, targeted interventions that support enterprise growth and contribute to economic diversification, job creation and improved market access.
Through tailor-made programmes, the partnership will prioritise SMMEs with potential to scale operations and integrate into industry value chains. Both LEA and Absa Bank Botswana will provide focused support designed to enhance enterprise productivity, competitiveness, and long-term sustainability.
Key areas of cooperation include capacity development through business management and technical training, as well as coaching and mentorship support. The partnership will also facilitate access to appropriate funding solutions to support business expansion. In addition, the parties will strengthen business incubation programmes to align with current economic needs and industrialisation objectives, while intensifying export readiness and promotion initiatives for products and services with global market potential. The collaboration will further include financial literacy programmes, entrepreneurship awareness seminars, and networking platforms.
The LEA Caretaker Chief Executive Officer, Thato V. Jensen, stated:
“Our collaboration with Absa Bank Botswana aligns with national priorities, particularly Botswana’s True North aspiration of a high-income, digitally enabled, export-driven and economically diversified economy where every citizen is employed, empowered and fulfilled. This partnership unlocks that potential for our SMMEs by strengthening their capabilities and improving access to appropriate financing solutions, a key constraint to enterprise growth, while preparing them to compete in local, regional and international markets. Through this collaborative approach, LEA advances its objective of developing sustainable and diversified enterprises.”
Jensen added that the SMME sector remains a critical engine for economic growth globally and that the partnership responds to persistent challenges affecting enterprises in Botswana, including limited access to finance, financial literacy gaps, market access constraints, and inadequate operating infrastructure.
“We are pleased to embark on this transformative journey with Absa Bank Botswana, particularly at a time when the country is broadening its economic base beyond reliance on mineral revenues,” he said.
Absa Bank Botswana Managing Director, Keabetswe Pheko-Moshagane, said: “At Absa, we believe that sustainable economic growth begins with empowered entrepreneurs. This partnership with LEA reflects our commitment to combining access to finance with practical business support so that enterprises can grow with confidence. As Botswana advances its diversification agenda, our SMMEs must be competitive, resilient and export-ready.
For us, supporting entrepreneurs is not just about funding businesses, it is about recognising that behind every enterprise is a dream, a family and a future. At Absa, your story matters, and we are proud to partner in helping those stories succeed.”
