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LEA, Absa sign Memorandum of Understanding

patriot by patriot
November 9, 2020
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LEA, Absa sign Memorandum of Understanding
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Local Enterprise Authority (LEA) and Absa Bank Botswana Limited (Absa) have partnered to through a Memorandum of Understanding; as a commitment to cooperate in the field of entrepreneurship and SMME development. The two entities forge linkages to accelerate growth of the Small, Medium and Micro Enterprises in Botswana. This will be achieved through provision of targeted entrepreneurial skills capacity building interventions that will enhance SMME sector competitiveness and sustainability.

This strategic collaboration will focus on the following:

•       Provision of business management training, coaching and mentorship programmes to benefit both Absa Bank and LEA clients

•       Funding solutions for bankable SMME business plans

•       Entrepreneurship awareness workshops to encourage enterprise development as an alternative to formal employment

•       Joint research to identify business opportunities that could benefit the SMME sector.

“This couldn’t have come at a better time as now we know the challenges that our SMEs are facing given the numerous challenges which are now compounded by the COVID -19 pandemic.We do put our customers and clients at the center of everything that we do hence we found it necessary to partner with LEA on this journey,said Keabetswe Pheko-Moshagane, Managing Director of Absa Bank Botswana. 

When acknowledging the partnership, LEA Chief Executive Officer Dr. Racious Moatshe said the SMME  sector plays a significant role in the our economy, and has a potential to contribute to job creation, import substitution, export development and economic growth. “Hence our strategic collaboration with Absa as a financier to assist with targeted SMME funding solutions.We are grateful to have Absa onboard as we continue to implement transformative strategies, programmes and projects that promote entrepreneurship and develop SMMEs in Botswana,’’ he added.

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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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