BECI targets outward investments
Pauline Dikuelo | Thursday December 1, 2016 18:00
Speaking at their 20th anniversary recently, BECI managing director, Cowell Habana said moving forward they want to provide access to export credit through providing guarantees to commercial banks in order to encourage them to give loans to exporters.
BECI is a subsidiary of the Botswana Development Corporation (BDC).
“We want to create employment through export development which in turn will attract foreign direct investment,” he said.
The CEO further noted that they recently signed a Memorandum Of Understanding (MoU) with the Factoring Trust Fund, in which they will be working with them in growing the factoring sector.
“Since we collate credit information we intend to start selling this to the public in the near future,” he said.
When narrating their journey, Habana said a feasibility study was carried out in 1994 and the need to establish export credit guarantee and export finance guarantee scheme was identified. Two years later, BDC set up BECI as a 100% subsidiary. By then the project objectives were to encourage production and export diversification both in terms of commodities and markets globally.
He said they wanted to provide access to exporter credit, through providing guarantees to commercial banks in order to encourage them to give loans to exporters.
In 1998, the domestic credit insurance was introduced, followed by performance guarantees in 2004, then the introduction of debt collection in 2011, invoice discounting in 2013 as well as purchase order financing which was added in 2015.
As part of the celebrations, long serving members were recognised including Motlalepula Mooketsi who was honoured for being the longest serving member of 20 years.
While Gaobaone Mokopi, Agri Sebenyane, Rocky Ramolefo and Bonani Dube were honoured for their 10-year contribution. Under the five-year serving members, Mercy Ntuane, Kelebogile Baitse, Keletso Ntsiakgotla, Moagi Keebonang and Harold Sebenga were also honoured.