Local companies seeking to grow their businesses beyond Botswana borders were given a boost this week when Stanbic Bank launched an ambitious Trans – Regional Offering on Thursday. The Trans-Regional Offering is set to offer businesses banking capabilities and promote interaction for entrepreneurs across the global market. The new offering which was launched by the Minister of Investment, Trade and Industry is said to have already kick started and Stanbic is taking advantage of its footprint across 20 African countries to improve the ease of doing business in the continent.
Stanbic-a leading unlisted financial bank-is moving towards improving entrepreneurial climate within the continent by introducing solutions that support such ambitions and the Trans –Regional Offering is expected to do just that. The new product will bridge the gap between countries making it easier for businesses to transact easily across the boarders. Stanbic bank Head of Commercial Banking, Chiko Manokore said investors face challenges when they aspire to carry investments outside their countries. Potential investors may wonder who is going give them support when they expand abroad and as such the bank came up with a tailor made solution to cater for trans-regional banking answers.
Manokore said the offering will focus on three key issues in trying to address challenges faced by cross boarder challenges, and these are relationship management, financial solutions and in-depth industry knowledge. He said their ambition is supported by their strong presence in the continent with the bank having footprints in 20 countries in the continent. Speaking at launch, minister Seretse said the trans-regional offering is an opportunity for enhanced inter-regional trade that holds potential for businesses to capitalize and maximize on strengthening relationships across boarders. “It spells the very difference between remaining a small home-grown business and expanding operations to become an absolute Botswana success story,” the minister said.
Seretse appreciated Stanbic’s efforts as way to assist the government in the diversification drive. He noted the importance of Public Private Partnerships (PPPs) in working together towards achieving the needed diversification. The minister also acknowledged that a thriving sector is a pre-requisite of a healthy economy, calling Stanbic to be a partner in driving the development agenda. An increase in the number of local companies seeking to grow beyond Botswana borders has been recently witnessed, said Seretse. Benefits offered by the interregional trade or business without limits, the minister said, include stronger fostering of relations with regional and international business communities; access to new markets thus increasing potential for business growth; opportunity for contributing further to the international reputation of Botswana and enhancing business understanding by what are small businesses with the potential for growth, thus resulting in a more financially literate nation.