Financing | Citizen Economic Empowerment
On 22 February 2022 Bank Gaborone announced a partnership with Morupule Coal Mine for the Citizen Economic Empowerment Policy, to the tune of P100 million.
Through the program Bank Gaborone will amongst other solutions, provide financial assistance to the economic diversification agenda of the country, and create alternative livelihoods to mining industry and communities.
This transformation program is expected to aid Morupule Coal Mine o their P1.7 billion open cast mining project Motheo. The Motheo Project is expected to increase tonnage from 2.8 million to 4.2 million, to allow for high scalability to meet current and future demands.
Our partnership with Morupule Coal Mine is a deliberate commitment towards realising the purpose of Economic Inclusion Bill of 2021, which among other things speaks to promoting the effective participation of citizens inthe economic growth and development of country, We are excited and proud to be part of this initiative and are confident that it will have a positive impact inthe lives of Batswana ” said Bank Gaborone Managing Director Sybrand Coetzee
The Morupule Coal Mine partnership was influenced a similar Citizen Economic Empowerment Policy program that Bank Gaborone successfully executed in 2021 with Debswana. In this particular project, Bank Gaborone was able to successfully assit over 25 local businesses.
As part of the partnership, the beneficiaries of the Citizen Economic Empowerment will receive mentoring to empower them in managing finances for their projects.
Morupule Coal Mine General Manager Mr. Edwin Elias said the organisations will work together to not only give hope to SMMEs and the community, but to also unleash potential in a sustained and meaningful manner.
“We are haply to contribute to the growth of our National economy, we are committed to playing our part towards the ideals of economic diversification, economic Inclusion and citizen economic empowerment. Our strength comes from teamwork, collective knowledge, experience, efforts and skills of our employees and partnerships with our strategic business partners ” he said.