MMG Khoemacau Copper Mining and Absa Bank Botswana have entered into a strategic partnership to strengthen access to finance and enterprise development support for citizen- owned small and medium-sized enterprises (SMEs) participating in Khoemacau’s Citizen Economic Empowerment Programme (CEEP).
Formalised through the signing of a Memorandum of Agreement (MoA), the partnership brings together the respective Citizen Economic Empowerment and Enterprise Supplier Development commitments of the two institutions to deliver coordinated, targeted interventions that support enterprise growth and sustainability of citizen-owned enterprises.
The collaboration is designed to help address some of the key barriers affecting the participation and growth of SMEs in the mining value chain.
The partnership aims to help citizen-owned enterprises strengthen their operational and financial capabilities and improve their readiness to execute commercial opportunities arising from MMG Khoemacau’s operations.
This will be achieved through access to appropriate financial solutions, complemented by business development support, advisory services and capacity-building initiatives.
The partnership aligns with the government’s broader economic empowerment objectives by supporting citizen entrepreneurship, strengthening local participation in the mining value chain, and enhancing the capacity of local businesses to contribute meaningfully to national economic development.
In her remarks, Keabetswe Pheko-Moshagane, Managing Director of Absa Bank Botswana, said this partnership reinforces Absa’s commitment to supporting citizen-owned businesses through access to finance, capacity building and market opportunities.
She added that by working together with MMG Khoemacau, Absa is supporting SMEs connected to the mining ecosystem and contributing to government’s vision for citizen economic empowerment and sustainable economic growth.
“For Absa Bank, this collaboration demonstrates our commitment to creating meaningful impact in the markets in which we operate. It reinforces our strategic focus on providing SMEs with access to tailored funding solutions, capacity-building support and market opportunities, while supporting the growth and development Botswana’s SME sector. This partnership also builds on Absa Bank Botswana’s recognition as the country’s Best SME Bank, reaffirming our continued focus on delivering meaningful and sustainable value to small and medium-sized enterprises.”
Speaking on behalf of MMG Khoemacau Wei Gao, Director Finance, said emphasized that the partnership with Absa Bank Botswana is closely aligned with the company’s Citizen Economic Empowerment Programme (CEEP), which is focused on strengthening the financial capacity and long-term sustainability of citizen-owned contractors and suppliers.
“Access to finance is an important enabler of meaningful participation in the mining value chain. By combining financial solutions with enterprise development support, this partnership will help businesses build the capacity needed to execute contracts effectively and pursue sustainable growth.
Gao stressed that the partnership also supports government’s broader objective of advancing economic transformation through meaningful citizen participation, enterprise development and increased local value creation.
“We are pleased to embark on this journey with Absa Bank Botswana as we work to strengthen the capacity of citizen-owned enterprises to participate sustainably in Botswana’s mining economy.”
The partnership underscores the shared commitment of MMG Khoemacau and Absa Bank Botswana to advancing citizen economic empowerment, fostering entrepreneurship and strengthening the meaningful participation of citizen-owned enterprises in Botswana’s mining value chain.
