A new entrant, BluThorn Procurement Solutions, seeks to develop customised funding products and business advisory to the Small Medium Enterprises (SME).
The company, which is licensed by Non-Bank Financial Institutions Regulatory Authority (NBFIRA) provides funding, business advisory services, thus enable emerging entrepreneurs to grow into job creating enterprises contributing to wider economic inclusion.
In an interview with Business Monitor the company’s Chief Financial Officer Tiyedze Kamodi said they assist SMEs to take a different approach to credit than that of the traditional, mainstream financiers and bankers, without increasing risk.
“We seek to assist small businesses to become successful, we can aid with job creation, wealth creation and increase the competitiveness of small companies on a global scale,” she said.
According to Kamodi, by getting involved in legitimate business transactions, where the counterparties are credible businesses, they can fund SMMEs who are starting-up, backed only by their first valid order, even though they lack financial history or security.
She further said SMEs need to explore markets and grow beyond the local market instead of relying
“At BluThorn Procurement Solutions we believe in abolishing the barriers created by a lack of funding and by empowering individuals to build organisations that uplift their communities and that create sustainable change,” she said.
On his part, the Head of Sustainability Enterprise Unit Dennis Maswabi said they will also train and develop women, youth and the disabled on entrepreneurship at their Enterprise Development Academy.
“Most entrepreneurs still need to be trained on supply chain management, value chain development and industrialisation for them to grow beyond their infancy stage and be able to penetrate regional markets,” he said.
BluThorn aims to invest the wealth of Batswana to generate a financial return for investors and importantly a social dividend for all Batswana.
The group seeks to create profitable partnerships by achieving above market returns whilst serving as catalyst for sustainable economic growth and prosperity of small businesses and enterprises across Botswana.