Absa boosts women entrepreneurs

As many small and medium enterprises (SMEs) struggle to survive beyond their early years, Absa Bank Botswana hosted its annual Women in Business Workshop on 13 November 2024 at Oasis Motel. The event aimed to provide women entrepreneurs with practical tools to overcome challenges and ensure their businesses thrive in Botswana’s evolving economy. Held under the theme “Reimagining Your Business for a Better Future,” the workshop attracted women business leaders and owners, offering a day of learning, networking, and empowerment. It featured expert-led sessions focused on equipping women with skills in governance, people management, branding, and leadership to drive sustainable growth. Rapula Leepile, Absa’s SME Regional Manager for Commercial Asset Finance, underscored the pressing challenges SMEs face, particularly in governance and operational efficiency. “Most SMEs don’t make it past three years,” Leepile revealed, “largely due to poor record-keeping, lack of strategic oversight, and uncollected debt. These issues weigh heavily on businesses limiting their growth potential.” 

Leepile advised attendees to strengthen governance by maintaining accurate financial records, appointing board members to guide strategy, and adopting Know Your Customer (KYC) practices. “Knowing your customers and suppliers streamlines operations like debt collection, avoiding one of the top reasons businesses fail,” he explained. 

On people management, Leepile cautioned that mistreating employees can backfire. “Businesses often create their own competition by ill-treating their people. When employees leave, they may join competitors or start their own ventures. Treating employees well and incentivising them builds loyalty and reduces turnover,” he said. Absa leaders took the opportunity to highlight key areas for business resilience. Spencer Moreri, Acting Head of Communications, stressed the importance of branding and networking. “Building a strong brand and establishing trust can open doors to new partnerships and opportunities. I encourage all women entrepreneurs to invest in creating visibility for their businesses,” he said. 

Meanwhile, Bakang Tshwene, Execution Manager – Enterprise & Supply Chain, led a session on leadership. “Women in leadership are transforming the business landscape,” Tshwene remarked, commending the attendees for their commitment to innovation and excellence. Absa Bank’s dedication to women’s economic empowerment was reinforced by Moreri. “Empowering women entrepreneurs is key to building strong communities and a robust economy. This workshop reflects our commitment to equipping women with the skills and confidence to thrive,” he said