22 Jun 2025

Stanbic Bank Botswana has partnered with Okavango Wilderness Safaris to boost inclusive economic growth through the signing of a Memorandum of Understanding in Gaborone on Thursday.

The agreement aims to provide small, medium and micro enterprises (SMMEs) in the tourism supply chain with access to sustainable funding and growth platforms.

Speaking at the event, Stanbic Bank Botswana chief executive officer, Mr Chose Modise said the MoU was not just an ordinary agreement but one that would redefine partnerships as engines of the next phase of economic growth.

Describing the MoU as a landmark moment for both the tourism and banking sectors, he said that SMMEs would, among other benefits, have access to finance, lay a foundation for value creation, guidance, and empower citizens, thereby benefiting the communities in which they operate.

With tourism contributing approximately seven per cent to the Gross Domestic Product, Mr Modise said that the supply chain was often inaccessible to SMMEs, adding that the MoU would serve as a solution to many challenges, empowering Batswana to build sustainable businesses.

Addressing attendees, Okavango Wilderness Safaris Caretaker managing director, Mr Joe Matome stressed that sustainable tourism must be inclusive, involving the communities within which they operate.

Through the partnership from June 26-27, an expo will be held, creating a platform for participants to access funding from Stanbic Bank Botswana, as it has become evident that without capital, sustainability is difficult to achieve.

For further empowerment, the second day will feature a workshop where the bank will share business expertise with entrepreneurs. To date, items such as toiletries and décor for their resorts are sourced from citizen-owned companies.

Mr Matome highlighted that partnerships enabled progress, noting the expected participation of 75 businesses at this year’s expo, where they will be exposed to numerous opportunities.

With such strategic partnerships, he said the goal was for SMMEs to graduate to medium and large-scale entrepreneurs, with the aim of exporting and thereby fostering economic growth. ENDS