MCM, FNBB ink P500m five-year deal
Pauline Dikuelo | Tuesday December 13, 2022 06:00
Through this partnership, FNBB has committed P500 million towards the MCM programme, which will provide exclusive access to funding for MCM Citizen-Owned Business Partners.
The objectives of the agreement are to leverage the mining value chain opportunities to support local business growth, increase citizen participation, diversify the economy and create sustainable job opportunities.
The partnership entails the creation of meaningful opportunities for citizen-owned companies through MCM Supply Chain, holistic banking and access to financial solutions from FNBB as well as joint enterprise capacity-building support for targeted entities.
MCM CEO Edwin Elias said their partnership with FNBB will facilitate sustainable growth from a funding perspective for MCM Citizen-Owned Business Partners and could not have come at a more opportune time. “MCM is resolute in its drive to promote the socio-economic development of Botswana through Citizen Economic Empowerment.
This means that we are intentional in ensuring that Citizen-Owned Businesses are provided with the opportunity to access the market presented to them through the MCM Supply-Chain,” said Elias.
MCM Enterprise and Supplier Development Manager Resego Keipidile said the MCM-FNBB partnership will positively contribute to increased participation of citizen-owned businesses thus closing the economic gap existing between citizens and foreign-owned counterparts. “As MCM CEEP, our Citizen-Owned Business Partners are at the core of why we exist.
This partnership demonstrates the dynamic and innovative approach in the interventions we consciously provide to Citizen Owned Business partners. We are resolute and committed to realising a knowledge-based economy through private sector partnerships in the CEEP agenda,” Keipidile said.
Morupule Coal Mine and First National Bank Botswana commit to an effective rollout of the agreement, in line with the economic Reset Agenda and the need to build a resilient local economy supported by a vibrant SME sector. On his part, FNBB Steven Bogatsu said the MCM-FNBB partnership offers existing and prospective Morupule Coal Mine contractors a holistic banking solution and access to funding for business growth and expansion.
He said the partnership agreement symbolises a firm commitment by the two institutions towards supporting and nurturing a vibrant local SME sector, driving economic diversification and the creation of meaningful job opportunities for locals. “We trust that MCM suppliers will leverage the facility provided by FNBB under the partnership to start, run and grow their businesses into the future corporate of tomorrow,” he said.