Barclays Bank Botswana has entered into a partnership with Botswana Association of Local Authorities (BALA) with intentions to unlock investment opportunities and improve of service delivery.
Announcing the partnership last week, Barclays Head of Public Sector, Phemelo Moleofe, said the objectives of the partnership is for the bank to play a pivotal role in the development of local government landscape.
She said the other objective is for strategic collaboration for mutual benefit between the local government and Barclays as well as to compliment initiative of BALA in driving coordinated efforts of the local government initiatives.
According to Moleofe, the goals of the partnership are to provide enabling ground for efficient service delivery in the local government landscape. It also allows for up skilling and empowering local government to provide solution driven and customer centric service, digital channels for collection, liquidity management and project finance.
Moleofe also said the intention is to benchmark on regional and global standards so as top achieve best practice which was done through engaging the Barclays expertise to deliberate on various critical topical issues that will expose the local government to a new level though process and challenge the status quo of modus operandi.
There are various ways which the partnership is set to benefit BALA, this include legal framework limitations, this will allow for comparative analysis od South Africa and Botswana jurisdictional legal landscape, identification of bottlenecks, benchmarking and improvement.
Its also includes debt capital market whereby the Barclays provides municipality bonds near treasury bill and formal government guaranteed funding poll and trigger interest from investors to enhance liquidity in local government.
Moleofe said the agreement will promote Private Public Partnerships which will align Barclays Public Sector Strategy with government initiatives such as PEEPA’s PPP policy
When commenting on the partnership, BALA president Mpho Moaruakgomo said currently the country needs effective and efficient service delivery. Moruakgomo said in the past the local government project financing experienced challenges of unlocking opportunities but expressed optimism that this partnership will address that.