Absa’s P1.4 Billion Funding Boost Empowers 200 SMEs and Creates 1,800 Jobs in Botswana

Absa’s P1.4 Billion Funding Boost Empowers 200 SMEs and Creates 1,800 Jobs in Botswana. Absa Bank Botswana’s Citizen Economic Empowerment Programme (CEEP) is making significant strides in supporting local small and medium-sized enterprises (SMEs), particularly those owned by Batswana, by facilitating their participation in the mining sector.

At the recent Future of Mining Summit, Absa Corporate Director Tebogo Giddie, representing Managing Director Keabetse Pheko-Moshagane, outlined the bank’s collaboration with major corporations to finance their value chains. Among these efforts is a dedicated BWP 100 million fund designed to assist SMEs and emerging businesses.

Giddie highlighted the partnership with Debswana as a flagship example of the initiative’s impact. Since 2019, Absa has disbursed BWP 1.4 billion in targeted Enterprise and Supplier Development (ESD) funding aligned with Debswana’s Citizen Economic Empowerment Programme.

The funding has enabled over 200 local SMEs to grow and participate more fully in the mining industry value chain, resulting in the creation of more than 1,800 jobs. This reflects a positive socio-economic contribution with long-term benefits.

Giddie emphasized that Absa pioneered this funding model in Botswana, which has since been adopted by other financial institutions in the country. She noted that this success demonstrates the potential for scalable and sustainable impact through inclusive finance initiatives.

The programme underscores Absa’s commitment to fostering economic empowerment and supporting the growth of citizen-owned enterprises across Botswana.