The two institutions signed a Memorandum of Understanding (MoU) at First Capital Bank's head office in Gaborone on Wednesday, establishing a framework for qualifying Debswana suppliers to access financing to execute contracts. The partnership targets a common challenge facing growing businesses, which is the period between winning a contract and receiving payment. Through the arrangement, the Bank will provide financial solutions, including working capital, asset financing and term lending, to help businesses purchase equipment and materials, pay employees and meet other operational costs required to deliver contracts. Speaking at the signing ceremony, First Capital Bank Botswana CEO Lesego Osman said the partnership was about turning opportunity into meaningful economic participation.
He added the Bank's role would extend beyond financing, with entrepreneurs also requiring support in areas such as financial management, governance, compliance and working-capital management as they prepare to take on larger opportunities. Osman also said First Capital Bank Botswana wanted to position itself as a financial partner and adviser to businesses rather than simply a lender. The partnership builds on Debswana's Citizen Economic Empowerment Programme (CEEP), which seeks to increase citizen participation in the diamond mining company's supply chain and build the capacity of local enterprises. Debswana chief finance officer, Ian Modubule, revealed that between 2019 and 2025, the company had facilitated approximately P28.2 billion in spend with citizen-owned entities, while more than 19,000 jobs had been created. According to Modubule about P2 billion in financing had been mobilised through various financing organisations. He bemoaned that while citizen-owned businesses had demonstrated that they could win contracts and deliver quality work, some continued to struggle to grow because of limited access to capital at the right time and on suitable terms.
