GABORONE – As part of its continued commitment to boost Botswana’s growth, Stanbic Bank Botswana has signed a Memorandum of Understanding with Export Credit Insurance & Guarantee Company Botswana (Pty) Ltd, under the name BECI.
Saperd Aisam, Head of Wholesale Client Segment, Stanbic Bank Botswana: “As Stanbic Bank Botswana, we strongly believe in forming strategic partnerships dedicated to the growth and prosperity of our clients. Our collective interest and investment in improving Batswana’s life and stimulating its growth is therefore undeniable. We understand the need to create innovative public-private partnerships and programs in order to diversify our economy and cement its growth. This is how we can improve life and turn dreams into reality, because with Banque Stanbic, it can be!
According to the Bank, some of the benefits of this partnership include:
- Joint seminars for SMEs focused on export development
- Warranty coverage / installations
- Credit insurance / insurance coverage on bank debt
- An enriched product offer thanks to credit insurance.
- Opportunity to match businesses supporting the import / export of goods and services within and outside Botswana
- Provision of back-to-back guarantees to support banking facilities
- Credit insurance to cover bank debts
- Create access to Acceleration for sustainable entrepreneurial development processes and as a shared workspace
- Provides transactional and digital banking solutions designed for SMEs, merchant banking and wholesale banking customers
- Ease of doing business with China thanks to the Africa China Banking proposal
BECI has maintained a central role in the growth of Botswana’s economy, having supported credit transactions amounting to 12.3 billion pesos to date, demonstrating their determination to empower entrepreneurs. “Our primary goal as a credit insurer is to support economic growth through commercial credit insurance solutions. The immeasurable value we have brought to the economy over the past 10 years is demonstrated in several ways, including: trade facilitation; support the construction industry; credit protection for local businesses; and relief through administration of the COVID-19 loan guarantee scheme, to name a few. Our joint partnership with Stanbic Bank is another exciting initiative that we are delighted to launch together, ”said BECI Managing Director, Mr. Cowell Habana.
“We understand our responsibility to expand beyond mere banking by adding value by providing exposure, information and our expertise to our clients. We do this to foster an environment that facilitates their growth and success. This is more in line with our objective because this partnership will allow us to sustainably support economic growth and unlock endless possibilities for local entrepreneurs ”, Aisam concluded.