Morupule Coal Mine (MCM) said it will endeavour to allocate half of its expenditure to citizen companies and sustain 3,000 jobs by the year 2027.
This comes after the coal mining giant partnered with First National Bank Botswana (FNBB) to empower citizen companies.
MCM Head of Commercial, Jonathan Nhovo said the target they had set for themselves will be reviewed upward so those tasked with this cause keep earning their money.
Nhovo indicated that the partnership is a commitment to unlocking opportunities and creating a pathway to financial prosperity for citizen-owned businesses.
โWe at MCM, are committed to being a partner of choice in the global coal transition, and the partnerships we envisage are not for change money nor handouts but real impactful activities and outcomes,โ said Nhovo.
โThe FNBB partnership is one such. We intentionally took a different trajectory to our CEEP from last year and we want to measure the impact MCM will make to the Botswana economy.โ
Nhovo believes this strategic collaboration will enhance financial literacy, provide access to bespoke financial solutions, and empower individuals to build a more secure and sustainable future.
This is one of our contributions to โAchieving Prosperity for Allโ as highlighted in the national Vision 2036,โ he asserted. By partnering with MCM, FNBB Head of Commercial Lending, Tshepo Morris, said the partnership with the coal mining company under the Citizen Economic Empowerment Program (CEEP) is not just a business agreement, but a deliberate effort to advance the socio-economic landscape of Botswana.
โFNBB, as an institution, has always been deeply rooted in the fabric of Botswana’s economic growth,โ said Morris.
โOur goal of shared value extends beyond conventional banking services.โ
FNBB, Morris said, has implemented various programmes and initiatives to assist SMMEs, providing them with access to credit, business development support, and mentorship programs.
โThese initiatives are designed to empower local businesses and contribute significantly to economic growth,โ he noted.
โIn our goal of shared prosperity, the bank is actively engaged in increasing local procurement, particularly in the mining sector.โ
Through the partnership, Morris stressed that FNBB aims to provide comprehensive banking solutions and access to funding for MCM contractors. By doing so, he said FNBB contributes to business growth, expansion, and the creation of meaningful job opportunities for our fellow citizens.
