- Targets robust local, regional expansion to be competitive
- Launches Disability, health financial support programmes
- Executive Director Motswagae upbeat on growth
BAKANG TIRO
Local purchase order financing company Ticano Group has – as part of its expansion plans – put focus on empowerment of citizens to help unlock economic growth in Botswana.
Ticano unveiled economic empowerment initiatives – launching a financial programme for People with Disabilities and financing programme for the business in the health sector.
Executive Director at Ticano, Opelo Motswagae, said the programmes are meant to accelerate economic growth, adding that there is potential for businesses owned by people with disabilities.
According to Motswagae, Ticano as a local business is committed to bolster others as well.
“Our flagship programmes are premised on the Sustainable Development Goal of Leaving No One Behind. The business people from the disabled community are qualifying for reduced borrowing interest rates for their purchase order finance needs. We will also ensure that there is sustainability of the businesses after financing. Ticano will assist with logistics locally and internationally,” he said.
Regarding the health sector financing initiative, Motswagae said their intention as Ticano is to see local businesses in the health sector space benefiting from the P10 billion allocated to the health ministry. He said it is a challenge for the health sector businesses to get purchase order financing.
“The P10 billion budget allocated to Ministry of Health and Wellness means that there are a lot of business opportunities that will be put forward. The health sector is very competitive and only the big companies benefit due to their financial muscle. At Ticano, we even want to see the small and medium enterprises getting into the competition, hence we will finance their orders,” he said.
He said the company keeps more focus on the goods that are procured on the health space because there are risks that some of the goods could not be of high quality.
Motswagae said the business is eyeing to expand robustly first targeting local expansion.
He indicated that the company will open the office in Jwaneng and Francistown in the near future to expand the local footprint, emphasizing that Ticano is also keen on promoting financial literacy as well.
“We intend to be a national company so that we can take financial services across the country. We are also keen on expanding outside the country as part of our growth strategy. Moreover, we are grateful over how the business has grown over the years,” he said.
The Covid-19 pandemic, he said, had an impact on Ticano but the company withstood the storm by continuing to offer a bulk their services.
Motswagae said other sectors that they target to expand their financing programmes to include education and oil, gas and petroleum services, adding that the energy sector is growing locally. He underscored that the company will ensure that its financial support programmes reach out to other parts of the country, including in the rural areas so as to bolster many businesses.