Tokafala supported SMEs raise P36.4m in funding
Staff Writer | Tuesday August 12, 2025 16:17
The diamond company stated recently that companies supported by the Tokafala Enterprise Development Programme have raised more than P36.4 million in funding from various development finance institutions. The figure exceeded the scheme’s original P27 million target, officials announced recently. Providing an update last week, De Beers Vice President for Social Impact and Sustainability, Otsile Mabeo, said the milestone reflected growing investor confidence in Botswana’s SMEs and underscored the programme’s role in connecting local businesses with capital. “These results demonstrate the real and lasting value Tokafala is bringing to Botswana’s entrepreneurs and small businesses,” Mabeo said.
“By equipping local enterprises with the skills, resources, and networks they need to thrive, we are helping them to build a more resilient and inclusive economy.” The funding success is part of a broader performance report showing Tokafala has supported 4,537 jobs in total and created 808 new ones, surpassing its target of 630. The programme, a partnership between Debswana, De Beers, the Government of Botswana, and Anglo American, offers mentoring, business skills training, and support in accessing finance for SMEs across multiple sectors. De Beers added that the programme’s impact extends beyond financial metrics, with a particular focus on empowering youth- and women-led enterprises. Many of the newly created jobs are in manufacturing, retail, services, and agribusiness, which are seen as critical for economic diversification. The company noted that Tokafala’s strong performance is helping advance Botswana’s efforts to broaden its economic base beyond diamond mining. With the latest figures, the programme is set to deepen its partnerships with financial institutions and expand its reach to more entrepreneurs nationwide.
“We are encouraged by the entrepreneurial spirit we see in Botswana and are committed to supporting more businesses to scale and create even greater economic opportunities,” Mabeo added. Meanwhile, a study by the Local Enterprise Authority (LEA) on the sector published two years ago revealed that SMEs were saddled with a wide array of challenges, all of them being linked to a lack of appealing finance options from lenders and investors. The lack of finance options for the different stages of the small businesses' development in Botswana is widening the finance gap in the local market, the study revealed.