Browsing: Absa Bank

Morupule Coal Mine Signs MoU with Letshego for Financial Support. www.theexchange.africa
  • Morupule Coal Mine (MCM) and Letshego Botswana have joined forces to support Micro and Small Entrepreneurs (MSEs) and drive Citizen Economic Empowerment.
  • Through the signing of a Memorandum of Understanding, Morupule Coal Mine’s contract suppliers now have the opportunity to access affordable funding through the commitment of a P2.2 Billion ($165M) facility by Letshego Botswana over a 5-year period.
  • Letshego Botswana and Morupule Coal Mine have pledged to hive off contracts, provide ongoing financial support, and empower these entrepreneurs, giving them the potential to scale up their operations.

The signing of the Memorandum of Understanding between Morupule Coal Mine and Letshego Botswana underpins the commitment of the partners to empower and unlock the potential of Micro and Small Entrepreneurs to gain access to the capital required for participating in and successfully completing projects competitively within agreed timelines.

MSEs face significant financial challenges, including a low appetite in the market to …