As part of continued commitment to drive Botswana’s growth, Stanbic Bank Botswana has signed a Memorandum of Understanding with Export Credit Insurance & Guarantee Company Botswana (Pty) Ltd, trading as BECI.
“As Stanbic, we firmly believe in forming strategic partnerships dedicated to the growth and prosperity of our clients. Our collective interest and investment in improving the lives of Batswana and driving her growth is therefore undeniable. We understand the need to create innovative Public-Private Partnerships and programmes in order to diversify our economy and cement its growth,” said Stanbic Bank Botswana Head, Wholesale Clients Segment, Sheperd Aisam,
According to Stanbic, some of the benefits of the 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; Opportunity to connect companies supporting importation/exportation of goods and services into and outside Botswana; Provision of back-to-back guarantees in order to support banking facilities; Credit insurance to cover bank debt; Create access to the Accelerate for sustainable entrepreneurial development processes and as a shared working space; Provides Transactional and digital banking solutions designed for SMMEs, Business Banking and Wholesale Banking Clients; Ease of doing business with China through the Africa China Banking proposition.
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. “Our primary objective as a credit insurer is to support economic growth through Trade credit insurance solutions. The immeasurable value we 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 BECI General Manager, Cowell Habana.
“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,” added Aisam.