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Stanbic Bank Botswana and Debswana Diamond Company Launch CEEP Strategic Partnership
Stanbic Bank Botswana and Debswana Diamond Company (Debswana) have joined forces to launch the Corporate Environmental, Social, and Governance (CEEP) strategic partnership. This partnership is designed to enhance Debswana’s sustainability credentials and support Botswana’s environmental and social development.
CEEP Focus Areas
The CEEP partnership will focus on the following areas: *
Environmental Management:
Reducing Debswana’s carbon footprint, promoting responsible water use, and implementing waste management solutions. *
Social Impact:
Investing in community development programs, supporting education and healthcare initiatives, and promoting workforce diversity and inclusion. *
Governance:
Enhancing Debswana’s corporate governance practices, promoting transparency, and ensuring ethical operations.
Benefits of the Partnership
This strategic partnership offers several benefits for both organizations and the community: *
For Debswana:
* Improved sustainability performance and compliance with environmental and social standards. * Enhanced brand reputation and stakeholder trust. * Reduced operational costs through sustainable practices. *
For Stanbic Bank Botswana:
* Alignment with its sustainability goals and commitment to responsible banking. * Diversification of its portfolio and growth of its corporate business. * Contribution to the socio-economic development of Botswana. *
For Botswana:
* Promotion of environmental sustainability and protection of natural resources. * Improved social well-being and economic opportunities for communities. * Enhancement of Botswana’s global competitiveness as a responsible mining destination.
Implementation and Monitoring
The implementation and monitoring of the CEEP partnership will involve regular assessments and reporting. Both Stanbic Bank Botswana and Debswana will work closely to ensure the effective execution and measurement of the partnership’s goals.
Statement from Stanbic Bank Botswana
“We are extremely proud to partner with Debswana on this transformative initiative. This partnership aligns with our commitment to driving sustainable development in Botswana and supporting our clients in achieving their ESG goals,” said C. K. Senthil Kumar, Chief Executive of Stanbic Bank Botswana.
Statement from Debswana
“The CEEP partnership is a testament to our unwavering commitment to sustainability and our desire to create a positive impact on our stakeholders and the environment. We believe that this collaboration with Stanbic Bank Botswana will empower us to accelerate our sustainability journey and contribute to the long-term prosperity of Botswana,” said Desh Maheshwari, Managing Director of Debswana. The CEEP strategic partnership between Stanbic Bank Botswana and Debswana is a significant step in advancing environmental, social, and governance practices in Botswana. It demonstrates the commitment of both organizations to creating a sustainable future for the country and beyond.Stanbic Bank Botswana Launches Landmark Citizens’ Economic Empowerment Program with Debswana
Stanbic Bank Botswana Launches Landmark Citizens’ Economic Empowerment Program with Debswana
Stanbic Bank Botswana has announced a groundbreaking partnership with Debswana Diamond Company to launch a Citizens’ Economic Empowerment Program (CEEP). This collaboration aims to drive sustainable economic growth and empower local businesses in the mining sector, a focus area for Stanbic Bank’s Corporate and Investment Banking. The partnership was formalized on June 4, 2024, with the signing of a Memorandum of Understanding (MoU) at Jwaneng Golf Club. This marks Stanbic Bank’s third significant CEEP partnership in the past six months, following agreements with Tokafala and the Botswana Chamber of Mines (BCM). Under the program, Stanbic Bank will provide BWP 1,000,000.00 in financing for collaborative efforts with Botswana’s leading diamond mining company. The bank will also sponsor and participate in the Future of Mining Summit 2024. Kushatha Chilisa, Head of Citizen Economic Empowerment Program at Stanbic Bank Botswana, emphasized the importance of the collaboration: “Our goal is to create sustainable opportunities for local businesses and entrepreneurs, ultimately driving economic growth and improving livelihoods.” The partnership focuses on three key areas: *
Business Development:
Providing training, mentoring, and financial support to aspiring entrepreneurs. *
Skills Development:
Implementing vocational training programs to equip individuals with essential skills for success in various industries. *
SME Support:
Offering customized financial solutions and advisory services to small and medium-sized enterprises to enhance their growth and sustainability. Jwaneng Mine General Manager Goitseone Gadifele highlighted the value of such partnerships: “Our partnership with Stanbic Bank Botswana will enable us to empower citizens and support the growth of local businesses, contributing to Botswana’s overall economic resilience.” Stanbic Bank’s commitment to Botswana’s national aspirations, the Restart Agenda, and the Change of Mentality is evident in its focus on collaboration to promote social progress and elevate the country’s economy to a high-income status. Another MoU is scheduled to be signed with Debswana in Orapa on June 11, 2024.Stanbic Bank Botswana and Debswana Diamond Company have entered into a strategic partnership to launch the Community Enterprise Economic Empowerment Programme (CEEP). The programme aims to empower and develop citizen-owned enterprises in Botswana. CEEP will provide access to finance, training, and mentorship to small and medium-sized enterprises (SMEs) in the country. The programme will focus on key sectors, including manufacturing, tourism, agriculture, and services. Stanbic Bank Botswana will provide financial support and expertise to the programme. Debswana Diamond Company will contribute its vast network and resources to support the development of SMEs. The CEEP was launched at a ceremony in Gaborone, attended by senior executives from both Stanbic Bank Botswana and Debswana Diamond Company. The programme is expected to create jobs, promote economic diversification, and contribute to the growth of the Botswana economy.
