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FNBB calls for greater citizen empowerment  

patriot by patriot
February 23, 2023
in Business
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FNBB calls for greater citizen empowerment  

Founder of Khumo Studios and Hollywood actor and producer, Denim Richards on stage

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First National Bank Botswana (FNBB) hosted the 29th edition of the much-anticipated FNBB Budget Review Seminar under the theme “Business environment reforms to improve value chain development” on Tuesday 7th February 2023 at the Gaborone International Conference Centre (G.I.C.C.).

The seminar convened business and industry leaders as well as policymakers in a discussion to decipher the national budget with a view to strengthen the value chain and share ideas to uncover opportunities for economic growth. “Stronger measures need to be put in place for greater citizen empowerment in local supply chains and overall SME development. This economic demand has given us at FNBB, the opportunity to exponentially increase our efforts towards SME economic development as part of our shared value principle. We have continued to grow our commercial banking product offering through increased access to competitive finance and credit facilities. Through our Corporate & Investment Banking division, Rand Merchant Bank (RMB), we are growing our Environment, Social & Governance (ESG) advisory capabilities that will allow us to grow more diverse and innovative solutions,” said FNBB Chief Executive Officer, Steven Lefentse Bogatsu.

The seminar consisted of two sessions; a morning session that engaged SMEs in practical steps to unlocking greater value from the local supply chains and an evening session that unpacked the economic implications and opportunities that the national budget provides for the country.

Speakers of the day included Assistant Minister of Agriculture, Molebatsi Molebatsi; Minister of Entrepreneurship, Karabo Gare; Permanent Secretary of the Ministry of Entrepreneurship Joel Ramaphoi; Executive Director- Business Facilitation Botswana Investment & Trade Centre Dr Margaret Sengwaketsi; Co-Founder of Khumo Studios and Hollywood actor and producer, Denim Richards; De Beers Chief Financial Officer, Ms Susanne Swaniker-Tetty; and Rand Merchant Bank Client Strategist John Cairns.

Experts from the Bank also shared insights on ways the private sector can support citizen economic empowerment initiatives to overcome this current precarious, economic climate.

“This seminar is aligned to the government’s commitment in developing value chain opportunities in the key strategic sectors highlighted during the 2023/2024 National Budget Speech. The presence of leaders from the minerals, energy, manufacturing and agriculture sectors will help fast track SME’s inclusion into these value chains as well as boost development of the special economic zones. We are coming out of a year characterised by many challenges that stalled economic recovery. A year that was inundated with high inflation and subsequent increased interest rates which restrained funding in the financial industry as a whole, particularly to SMEs. The Budget Review is a platform where we can take full advantage of the immense talent participating in discussions to ensure that we leave with a clear and actionable plan to reform and improve our local supply chains,” said Bogatsu.

FNBB thanked the speakers, panellists and guests that participated in this effort to drive the country’s economic diversification agenda. The bank looks forward to the innovations that will emerge from the seminar as well as the growth of a robust local supply chain.

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  • Skelemani mishandled Kgosi Mosadi Pan African Parliament furoreMarch 22, 2023
    Adam Phetlhe The ravaging inferno sparked by the purported resignation of Kgosi Mosadi Seboko from the Pan-African Parliament (PAP) is fuelled by the Speaker of the National Assembly, Phandu Skelemani mishandling the matter. Had he performed due diligence on […]
  • Ithuba to roll-out LottoMarch 22, 2023
    STAFF WRITERS editors@thepatriot.co.bw Ithuba Solutions Botswana is waiting with bated breath for an announcement on the issuance of a lottery license, by the Gambling Authority, following the successful conclusion of negotiations in December 2022, The Patriot on Sunday has […]
  • BDP rejects Living WageMarch 22, 2023
    BAKANG TIRO editors@thepatriot.co.bw Ruling Botswana Democratic Party (BDP) MPs on Friday defeated the motion proposed by MP for Nkange constituency Dr Never Tshabang, proposing for government to introduce a living wage, which will be adjusted according to the cost […]
  • Uganda passes a law making it a crime to identify as LGBTQMarch 22, 2023
    Report by Elias Biryabarema Reuters Uganda’s parliament passed a law on Tuesday making it a crime to identify as LGBTQ, handing authorities broad powers to target gay Ugandans who already face legal discrimination and mob violence. More than 30 […]
  • Ian Khama to receive African Icon Award  March 22, 2023
    KT Press Former Nigerian President, Dr. Goodluck Ebele Jonathan will headline other African greats who are set to be honoured at the maiden edition of The African Heritage Concert and Awards slated to hold in Kigali, Rwanda on April […]
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