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Debswana targets P4bn citizen spend in 2022

Thursday, June 30, 2022 | 3370 Views |

Shifting value: Debswana is engaging more citizen enterprises for consumables and services such as drilling and tyre services management PIC: MORERI SEJAKGOMO

Diamond giant, Debswana, says it expects to have shifted P4 billion or 40% of its annual spend to citizen-owned businesses by year-end, as part of a five-year initiative aimed at growing local enterprises in the country.

Debswana’s Citizen Economic Empowerment Programme (CEEP) aims to spend P20 billion on citizen enterprises by 2024, with a cumulative P7.8 billion having already been procured between 2019 when the programme began, and 2021.

The initiative represents the largest citizen economic empowerment spend by a private company in Botswana’s history, rivalled only by the government’s Economic Diversification Drive which annually directs more than P10 billion in procurement by the state to local enterprises.

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Debswana targets P4bn citizen spend in 2022

Diamond giant, Debswana, says it expects to have shifted P4 billion or 40% of its annual spend to citizen-owned businesses by year-end, as part of a five-year initiative aimed at growing local enterprises in the country.