11 Jun 2013

Stanbic Bank has presented awards to horticultural farmers using Local Enterprises Authority (LEA) incubators at Glen Valley in Gaborone. The June 10 awards followed their adoption of modern technologies.

The farmers, who preferred to be referred to as agripreneurs, were taught how to improve their production using modern technologies. Stanbic Bank donated P250 000 to LEA to assist in the development of the horticultural sector.

Speaking at the awards ceremony, LEA’s director of innovation and sector support, Mr Lesitamang Paya said the incubators were established in 2007 with the purpose of accelerating growth in horticulture.

Mr Paya said Stanbic Bank’s funding was a demonstration of a good partnership between LEA and the private sector.  He however said it was important for the agripreneurs to work as clusters to defeat the high costs of supply.

For his part, head of SME banking at Stanbic Bank, Mr Keletso Setimela said they were pleased to play a part in the development of SMMEs in the local economy. He said SMMEs contributed to the economy accounting for nearly 90 per cent of businesses registered in Botswana.

Mr Setimela said SMMEs had become a major source of employment creation, noting that the sector had created jobs for over 300 000 people formally and informally across the country. He  said the sector also played part in economic diversification drive.

While major strides had been achieved in the development of the sector, Mr Setimela said they recognised the challenges SMMEs faced. The challenges included, among other things, poor quality of their products, access to markets, lack of proper management structures and lack of proper financial records.

He said the role of commercial banks was to encourage and aid in the development and growth of the SMME sector. In order to nurture their strengths and grow, a business needed capital and he said Stanbic Bank was providing a donation that would go a long way in assisting the SMME sector.

Mr Setimela also urged the winners to use their prize money to expand their businesses rather than fund their personal demands.

Meanwhile, Ms Barbara Molefe of Aunty B’s Quality who walked away with P45 000 first prize money said she would use it to develop her project in Malotwana.

Tlotlo and Leina and Direct A New tied for second place and walked away with P17 500 each. ENDS