Prime Lending Rate Change
Following an increase in the Monetary Policy Rate (MoPR) from 2.15% to 2.65%, Bank Gaborone has increased the
Prime Rate by 50 basis points from 6.26% to 6.76% effective from Thursday 25 August 2022.
Customers are advised that all Prime linked products will be reduced by the same margin.
For more information please call our customer contact center on +267 3158681.
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Bank Gaborone and Debswan P200million Citizen Economic Empowerment Programme (CEEP) Partnership
Bank Gaborone, a member of Capricorn Group has partnered with Debswana in the diamond company’s Citizen Economic Empowerment Programme (CEEP), to the tune of P200million. Through the program, Bank Gaborone will provide financial assistance and mentoring to selected entities, to help them contribute meaningfully to the economic diversification agenda of the country and create alternative livelihoods to mining.
This partnership comes as a deliberate commitment from the partners to drive the creation of opportunities for citizen suppliers, and is thus our contribution to the socio-economic development of Batswana by supporting and empowering citizen owned SMEs. We are both excited and proud to be a part of this trail blazing initiative, and believe it will pivot the lives of Batswana significantly in the near future.
In support of this initiative, a Supplier Development Program (SDP) has been set up under the CEEP, as a targeted intervention that develops citizen suppliers into world – class entrepreneurs and provides access to markets within Debswana and globally. The SDP is designed to address the issue of lack of access to finance by citizen suppliers, very weak entrepreneurial intent and self – efficacy among Batswana suppliers and a sub – par entrepreneurship culture. In order to increase meaningful participation of citizen suppliers in the Debswana supply chain, and at the same time ensure value creation for Debswana, the SDP provides a platform for a combined acceleration of skills, financial and entrepreneurship culture development. Debswana has to this end reserved certain goods and services for citizen suppliers with additional benefits of procurement price preferential margins.
Debswana has been the anchor point for all things progressive in Botswana’s economic development for over 50 years. In order to achieve a step – change in its contribution to Botswana its new path will be founded on opening major opportunities for citizen suppliers. The P200million financing will be centralized and managed through the Wholesale Banking division of the bank, to enable the Bank to be best capacitated to play a key role in the SDP in partnership.
The partnership comes at a time when now more than ever, the onus is on us as a bank to play our role as a true financial partner, and come to the party to support businesses and assist them to access alternative opportunities and markets.