NDB invests P118m in Palapye SMEs
Lindiwe Mozola | Tuesday August 15, 2017 16:22
Chief executive officer, Lorato Morapedi said this at the Palapye customer business forum recently.
She said over the years, the village has emerged as one of Botswana’s future industrial hubs and this was promoted by its geographical position as well as the industrial boom. “Agriculture takes the largest share of NDB’s investments in Palapye at 64% followed by property at 28% and the remaining spread in other sectors that the bank support such as retail and commerce as well as human capital development,” she said.
Morapedi said they have no doubt that these investments have gone a long way in contributing to the economic growth of the region as well as employment creation.
“We believe a lot more can still be done within the area if we continue with our partnership,” she added. Morapedi further encouraged Palapye residents to take advantage of the booming developments, advising them not to wait for outsiders to grab those opportunities.
She also appreciated the loyalty of their customers who stood with them in difficult times as the bank noting that the banking industry has been going through a challenging phase characterised by unfavourable markets and economic conditions.
Due to the declining business environment, Morapedi said NDB decided to focus more on supporting the struggling projects and scaling down on investing in new business ventures.
“As we focussed our attention on collecting from non-performing loans (NPLs), this negatively affected some of our customers as we could not fund them as they desired. We appreciate your understanding and loyalty during this period.
This is a clear sign that we both appreciate the importance of a long-term sustainable relationship and having a ‘CLEAN’ Bank with low NPL, particularly as we are preparing for privatisation,” added Morapedi.
She said other developments in the pipeline that will ensure that clients get a much more fulfilling experience with NDB include commercialisation and privatisation of the bank. Customers also extended their appreciation to the bank saying it sustained them for years being the backbone of their enterprises.
Gape Makalabeng, who owns various retail outlets here, appreciated NDB for the success of her business urging other clients to be loyal and pay their loans in time.