Sunday, March 7, 2021

Stan Chart reaffirms support for SMEs

Standard Chartered Bank Botswana has reaffirmed its commitment to fuelling Small and Medium Enterprises (SMEs) in Botswana.

Speaking on Monday at the bank’s business seminar, Euan Campbell, Standard Chartered’s Global Head- Segment Retail Clients said there are immense business opportunities in Botswana and Africa at large. He pointed out that the bank targets businesses that have ambitions and plans to expand their foot print nationally and across boarders. He said last year the bank went through a review of its business model and resolved to become more focused in some key areas by understanding the needs of clients.

“We want our customers to think of us every time they want a facility, when they need a cash management and working capital solution or when they think of investing their surplus funds,” said Campbell.

He believes that competition in the market is always very welcome because it affords the consumers the opportunity to choose the best products and choose a bank or service provider that offers the most value for money. He said some of the important things they consider within service delivery are speed, ease, and simplicity. He further stated that in a few months the bank will bring technologically advanced services and products that are tailor made to the clients’ needs.

Standard Chartered offers facilities for Small Medium Enterprises (SMEs) ranging up to P10 Million. Campbell said because SMEs do not have finance directors, Standard Chartered is willing to assist and enable them to do business.

“As a commercial bank, we should be able to facilitate trade, investment and wealth creation in all different regions for and on behalf of our customers. SCBB is committed to helping Batswana businesses achieve their ambitions in the right way. We are not just a bank, we are a business partner to the customers and the communities in which we operate,” said Campbell.

“Our immediate priority is to continue to execute the important mandate of being a financial intermediary of choice in Botswana and across the continent and thereby contribute to the continued deepening of the financial services sector in Botswana and the growth of the economy.”

SCBB Head of Retail Clients Pedzani Tafa said the Botswana government actively supports and nurtures the growth of SMEs by providing funding; setting up enterprise development agencies like Citizen Entrepreneurship Development Agency (CEDA) and Local Enterprise Authority (LEA), and splitting bigger tenders into smaller ones so that smaller businesses can participate.

“All these bode well in nurturing a dynamic and fast growing SME sector in Botswana. The sustainable momentum comes from having a healthy pool of SMEs,” she said.

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