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In 2019, Debswana ushered in a refreshed Citizen Economic Empowerment Programme with the purpose of impacting socio-economic development in Botswana by leveraging Debswana’s procurement spend. The CEEP project team was tasked with designing and implementing a step change CEEP strategy to create socio economic development opportunities for Batswana and deliver a shared citizen spend value of BWP20 billion and 20,000 jobs by 2024.
Then the CEEP execution matrix was focused on access and management of funding; governance policies and procedures; creation of a conducive business enablement environment; and the high returns are expected around entrepreneurship capacity building.
With focus now around industry development, Debswana strongly believes in the potential of import substitution, a deliberate reduction in imports of manufactured goods that can boost the demand for domestically produced goods, diversification and stakeholder collaboration.
It is on this background that Debswana Diamond Company, Botswana Stock Exchange (BSE) and Stanbic Bank collaborated to facilitate a Capital Markets Value Proposition workshop to empower citizen enterprises. Speaking at the event, Debswana Deputy Managing Director, Mr. Koolatotse Koolatotse indicated that a sustainable CEEP depends on developing resilient, diversified citizen businesses that can thrive beyond the mining sector and that capital markets present a vital opportunity for these businesses to scale. Underscoring the importance of the workshop, Mr. Koolatotse described access to affordable capital and regional markets as pivotal towards the transition of citizen enterprises, alongside strong governance to ensure sustainability.
He encouraged directors and shareholders attending the workshop to seize growth opportunities to ensure sustainable businesses that will drive Botswanaβs economy forward, citing that building a local manufacturing base to support the mining industry and other sectors is a natural and necessary evolution. βMistakes will be made, and we will forgive those mistakes, guide you, then hold you accountable through correcting themβ he said, while encouraging them to consider the seemingly daunting task of listing on the BSE.
Programme partners included Mr, Aobakwe Aupa Monyatsi, Chief Executive Officer of Botswana Stock Exchange, Mr. Chose Modise, Chief Executive Officer of Stanbic Bank. A testimony was provided by a Botswana Stock Exchange listed company, G4S. Echoed in the remarks of every speaker, was the sentiment that listing on the Stock Exchange provides access to growth opportunities for businesses, while enhancing governance and improving visibility.
