Debswana, in its ongoing commitment to citizen economic empowerment, is looking to broaden funding options for its business partners by including citizen-owned financiers registered with the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). This initiative aims to build on existing partnerships with local banks, which have facilitated P1.7 billion in funding through Debswanaโs Citizen Economic Empowerment Programme (CEEP). This funding supports citizen participation in high-capital activities like drilling, crushing, maintenance, and technology deployment.
Managing Director Andrew Motsomi highlighted that Debswanaโs focus on citizen empowerment has seen substantial results, including a 55 percent citizen spend and an 87 percent local procurement rate in 2023. The company has reached its five-year goal of investing P20 billion in citizen-owned businesses and aims to create 20,000 jobs.
Debswana’s value chain development efforts align with the governmentโs goals to diversify the economy. The company collaborates with the Botswana Chamber of Mines and the Botswana Investment and Trade Centre (BITC) to bolster local manufacturing and promote investment in mining-related sectors. Debswana envisions a robust local manufacturing industry that could make Botswana an attractive mining investment destination, ultimately driving economic growth and benefits for citizens.
However, challenges remain. A Supplier Sustainability Survey conducted in 2023 revealed that many business partners struggle with sustainability, with citizen-owned partners scoring an average of 45 percent on sustainability measures, below the 60 percent target. Additionally, issues of financial mismanagement and fronting have surfaced, leading to potential consequences for those violating the principles of the empowerment programme.
