The Local Enterprise Authority (LEA) in partnership with Stanbic Bank Botswana started a competition for its Glen Valley Incubator clients. The competition was intended to encourage incubator clients to adopt and implement good horticulture management and business practices in their enterprises.
This initiative came as a corporate social responsibility by Stanbic Bank to the LEA SMMEs, where they donated an amount of P250, 000.00 to be awarded to the best three performers which was incepted in 2013. The prize money is to provide a start-up for the outstanding Incubatees who are part of the programme.
In 2013 when the partnership was incepted, LEA identified the Glen Valley Incubator clients as recipients for the project, these were producers in the green houses, tunnels and shade net houses. The judging of the project looked at both technical and business variables, which were assessed to determine the winner in the competition.
The Stanbic donation is a great investment in the Horticulture sector as it aims to promote economic diversification in Botswana. Through such investment, competent horticultural entrepreneurs will be developed and the nation’s horticultural import bill is reduced. This will further assist on LEA’s continued quest to create jobs for our fellow citizens in the horticulture sub-sector and the country’s agricultural GDP will be raised.
Stanbic Bank Botswana acting chief executive, Samuel Minta said they are determined to move Botswana forward by supporting SME’s in becoming active economic agents, leading to job creation and essentially adding to the growth of Botswana’s economy.
“We understand our responsibility to go beyond banking, hence our investment in the growth of the Agriculture sector, which is pivotal in diversifying the economy. We are proud to have a fruitful partnership with LEA and we look forward to continuing to make progress real in the horticulture sector.”
LEA values this partnership with Stanbic Bank and has committed to ensure that the beneficiaries will be developed to be proficient so that they can meet the current trends and to benefit from the abundant opportunities that are available in the horticultural market. It is hoped that this donation will further enable the LEA to continue assisting entrepreneurs to inculcate the spirit of entrepreneurship. Initiatives such as these play a significant role in the growth of the SMME sector and the economy.