Absa backs gov't initiatives

Absa Botswana will continue to support government initiatives which are aligned to its strategic intent, Managing Director, Keabetswe Pheko Moshagane said recently. One of the sectors that the bank has vowed to support is the agricultural sector, which government has announced a number of schemes to shore it up.

“We are proud to have sponsored all the key agricultural events across the country, including Mookane, the Sandveld, and Voorslag field days. These initiatives are of great importance as they not only showcase the best practices in agriculture, but also in line with ESG (Environmental, Social & Governance) principles, educating our fellow citizens on sustainable farming methods and food production,” she told attendants during the announcement of the bank’s interim results up to June 2023. The bank sponsored the national agricultural show by P600 000.

The Absa Botswana MD stressed the above partnerships reflect their dedication to serving the broader interests of the communities that they operate in, beyond just providing financing. “In addition, by participating in these events, we aim to contribute to the national agenda of achieving food security,” she said. The Botswana Stock Exchange listed bank continues to support Small Medium Enterprises. Among other initiatives which shows their commitment, is the participation in the corporate value chain which are aligned to the Citizen Economic Empowerment Program (CEEP) in the mining sector.

Towards the end of last year, the bank signed Memorandum of Understanding (MoU) with Morupule Coal Mine dedicated to supporting Batswana entrepreneurs and citizen-focused SME development, through a funding pledge of P500 million. The two entities said the signing of the MoU underpins the confidence they have in the unlocked potential citizen-owned Small and Medium Enterprises (SME) in furthering their contribution to Botswana’s economic growth. SMEs face challenges such as lack of access to the market, finances, and opportunities which the MoU will directly address.