Stanbic Bank Botswana says promoting and celebrating female entrepreneurship remains its core focus as it endeavours to promote greater economic activity among local women.
This came to the light as the bank announced a P150,000.00 donation that will go towards prize money for Women in Business Association (WIBA) Botswana Woman of the Year Awards.
The inaugural awards, will be held on 23rd August 2015, and would will see one businesswoman walking away with P50,000 prize money, as the overall winner of the WIBA Excellence Awards over 3 consecutive years; 2015, 2016 and 2017.
WIBA President, Tumi Mbaakanyi said their organisation promotes the contribution of women entrepreneurs to Botswana’s Gross Development Product (GDP).
“We are driven by the fact that a developed small and medium enterprises (SME) industry is positively correlated to the country’s growing economy,” Mbaakanyi said.
“These awards aim to encourage competitive women-led businesses, whose existence strives on excellence, to fully penetrate not only the local market but the region and international markets too. Indeed, this will add on to our efforts towards achieving the Vision 2016 pillar of a Prosperous, Productive and Innovative nation”.
Head of Marketing at Stanbic Bank, Duduetsang Chappelle-Molloy said the promotion of female entrepreneurial development is key to the bank’s agenda.
“Female-owned businesses are invaluable to our economy and our society as they make a significant contribution to the country’s GDP, constituting almost 75% of the country’s small and micro businesses. As such, businesswomen need a space in which the entrepreneurial problems and issues unique to them can be addressed and tackled,” she said.
WIBA was established in 1990 as a wing extension of Botswana Confederation of Commerce and Industry (BOCCIM) now Business Botswana. As women continued to make strides, WIBA’S portfolio grew and it was later registered as a Non Governmental Organisation (NGO) in 2003. Currently part of the BOCCIM Council, WIBA exists to facilitate: adoption of specific laws that encourage women entry into business and support the sustainability of women-owned businesses; and increased input by women in economic decision making and business leadership in the country. It further works to increase the number of women in male dominated industries.
“We need to celebrate the achievements of our many inspiring female entrepreneurs. This includes mobilising and motivating female entrepreneurs to persevere and tap into their potential of being successful business entrepreneurs that add value to the national economy,” added Chappelle-Molloy.