18 Oct 2015

Stanbic Bank will once again sponsor the Morupule Coal Mine General Manager’s (MCM GM) annual charity cycle challenge 2015.

The bank will sponsor the race for the fourth consecutive year to the tune of P200 000.

The race, that is expected to attract over 100 cyclists, will kick off on October 25 from Boiteko Junction in Serowe along the Orapa road past Paje and Khama Rhino Sanctuary and back.

Handing over the sponsorship at Morupule Coal Mine, Stanbic Bank chief executive officer, Leina Gabaraane said his bank takes pride in supporting its customer Morupule Coal Mine in its initiative whose aim was to promote a healthy lifestyle as well as raise funds for the less privileged members of community. 

He said the event was an epitome of what they do at Stanbic Bank. “It is our pleasure to continue to be part of this challenge and we will continue to give you our support.”

He said his bank was synonymous for supporting sporting events, having spent about P1 million on cycling events across the country, citing the Stanbic Bank chief executive’s race in Ghanzi of which proceeds benefited the Chobe community through the provision of a mobile clinic.

He further said through cycling they could change many lives especially focusing on corporate responsibility.

 Stanbic Bank Botswana is part of the Standard Bank Group and provides the full spectrum of financial services with its corporate and investment banking division serving a wide range of requirements for banking, finance, trading, investment, risk management and advisory services.

Receiving the sponsorship, MCM general manager, David Kgoboko expressed his gratitude for Stanbic Bank’s support, adding that this has made a positive contribution to Morupule Coal Mine growing from a one million tonnes to a three million tonnes per annum operation.

He said the race was an initiative that started in 2009 with the formation of the Morupule Cycling Club with the aim to improve the level of fitness and wellbeing of employees of the coal mine and the surrounding communities.

It also helps to raise funds to assist less privileged members of the local community through various charity initiatives.

He said last year’s event attracted 84 cyclists and raised funds to support Ratsie Setlhako Primary School in Palapye and build a house for a family of orphans in Matlhakola in Tswapong area.

Kgoboko thanked Stanbic Bank for joining MCM in the initiative, adding that it was important for businesses such as MCM to plough back to the community rather than focusing solely on profit maximisation.

He said businesses should not neglect the socio-economic and environmental areas in order to strike a balance.

He said mining enterprises were closing as a result of the slump in mineral commodity prices and that MCM was also affected. He said MCM would continue to give support to the community hence its responsibility to support sustainability programmes.

He noted that proceeds from the cycling event would go a long way to support community projects.

The race will include options for short (30km), middle (58km) and long (100km) distances as well as the newly introduced 58km junior race for children aged between 14 and 18 years.

Registration for the race is ongoing and is charged at P120 for 30km, P150 for 58km and P200 for 100km distances.

The mine continues to explore its vast reserves and is currently undertaking further exploratory and investigative work (phase two expansion) with the objective of establishing an open cast mine in the northern boundary of its mining lease area. Ends