Debswana is ramping up its commitment to citizen economic empowerment with a bold new initiative to expand funding options for its business partners. By including citizen-owned financiers registered with the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), Debswana is enhancing its Citizen Economic Empowerment Programme (CEEP), which has already facilitated P1.7 billion in funding through partnerships with local banks. This funding has supported citizens in high-capital sectors like drilling, crushing, maintenance, and technology deployment.
Andrew Motsomi, Debswana’s Managing Director, emphasized the success of the company’s focus on citizen empowerment, with remarkable results in 2023: a 55% citizen spend and 87% local procurement rate. The company has also met its ambitious five-year goal of investing P20 billion in citizen-owned businesses and plans to create 20,000 jobs.
Aligned with the government’s vision to diversify Botswana’s economy, Debswana is working closely with the Botswana Chamber of Mines and the Botswana Investment and Trade Centre (BITC) to strengthen local manufacturing and attract investment into mining-related sectors. With this initiative, Debswana is helping pave the way for Botswana to become an even more attractive mining investment destination.
However, challenges persist. A recent Supplier Sustainability Survey revealed that many business partners are struggling with sustainability, with citizen-owned partners averaging just 45% on sustainability measures—below the 60% target. Issues like financial mismanagement and fronting have also surfaced, prompting Debswana to tighten regulations and ensure that all partners comply with the principles of the empowerment programme.
Despite these challenges, Debswana remains committed to its vision of boosting local businesses, creating jobs, and contributing to Botswana’s long-term economic growth.
