03 Aug 2021

 As part of their continued commitment to the country’s economic  growth, Stanbic Bank Botswana has signed a Memorandum of Understanding with Export Credit Insurance & Guarantee Company Botswana (Pty) Ltd, trading as BECI.

A statement from Stanbic Bank Botswana Head, Wholesale Clients Segment, Mr Sheperd Aisam says their collective interest and investment in improving the lives of Batswana and driving the country’s growth are undeniable. 

“We understand the need to create innovative Public-Private Partnerships and programs in order to diversify our economy and cement its growth,” read the statement.

It further says Stanbic Bank Botswana  firmly believe in forming strategic partnerships dedicated to the growth and prosperity of their clients.

“This is how we are able to improve lives and turn dreams into reality because, with Stanbic Bank, It Can Be!”

According to the statement some of the benefits of this partnership include; Joint seminars for SMMEs focusing on export development, guarantee cover/facilities, credit insurance/ insurance cover on bank debt, Enhanced product offering through credit insurance  as well as opportunity to connect companies supporting importation/exportation of goods and services into and outside Botswana amongst others.  

“We understand our responsibility to extend ourselves beyond just banking by adding value through providing exposure, information, and our expertise to our clients. We do this, to foster an environment that facilitates their growth and success. This speaks further to our purpose as this partnership will enable us to sustainably support economic growth and unlock infinite possibilities for local entrepreneurs.” 

Furthermore, the statement says BECI has sustained a pivotal role in the growth of Botswana’s economy, having supported credit transactions amounting to P12.3 billion to date, a testament to their resolve in empowering entrepreneurs.

However through an issued statement BECI general manager, Mr Cowell Habana says their primary objective as a credit insurer is to support economic growth through Trade credit insurance solutions. 

The statement says the immeasurable value BECI have provided to the economy over the past 10 years is demonstrated in a number of ways which include; the facilitation of trade, supporting the construction industry, credit protection for local enterprises, and relief through the COVID-19 Loan Guarantee Scheme Administration, to mention a few. 

“Our joint-partnership with Stanbic Bank is yet another exciting initiative that we are excited to embark on together,” stated Mr  Habana in a statement. ends