Page 27 - issue 26

Business 27

BECI Board Chairman Mr.K.Munamati (left)
Assistant Minister of Investment, Trade and Industry Honorable Karabo Socraat Gare (middle) ,
The General Manager of BECI Mr Cowell Habana (right)

base for international enterprises Agreements that can be fully utilised.” products into BECI has been designed
and entrepreneurs thus creating and The General Manager of BECI Mr Cowell and we are ready to implement as
enabling an environment for a capital Habana concurred with the Assistant we play our role in driving the ideals
goods and projects capability. Minister`s sentiments when he said, of Vision 2036 in pursuit of elevating
“The status of our exports is no doubt Botswana to a High Income status
Unbeknown to most, Export credit distressed. We all need to do more country.” He said.
insurance has been the domain of so as to create a positive sustainable
state-owned enterprises for the past balance of payments and address the It is without a doubt this new product
hundred years. Governments who do projected budget deficits. The clarion will be met with enthusiasm by local
not offer export credit support to their call is loud and clear. The time is now to entrepreneurs, suppliers and regional
companies, place their exporters at a act and as BECI we take on the challenge dealers as this product comes at a
great disadvantage. It is for this purpose by supporting governments efforts time Botswana is looking to increase
that BECI was established in the mid- through the stimulus instrument we are foreign investment and exports to the
nineties to offer short term export credit launching today.” region and the world. In some countries
insurance, which applies to exports of around us, sovereign credit ratings have
commodities and merchandise which Mr Habana did not mince his words plummeted.
are normally paid for within a credit when he emphatically stated with
period of six months. confidence that his team was ready to Due to good governance, Botswana
implement these new products which stands out as a beacon of stability,
Assistant Minister Gare advised BECI without a doubt are game changers in offering entrepreneurs, banks and
and entrepreneurs alike that “BECI the financing and insurance solutions investors the highest rated sovereign
needs to implement and maintain value chain. cover and protection available on the
state of the art underwriting tools, risk continent. A company or investor can
mitigation and pricing methodologies. “Specimen policies such an MLT Export expand into Africa and elsewhere whilst
On the other hand, enterprises and Contractor Policy, a MLT Financial Credit protected by this new product. The
suppliers need to produce and deliver Cover Policy, and an OII Policy are all in General Manager concluded by saying
the appropriate products and inputs on place already. Apart from that a Country that, “BECI has always and shall continue
time and according to specifications. I Assessment Methodology, a Commercial to play an important role in the Export
urge the Business community to utilise Risk Assessment Methodology, an Development and Promotion.” The MLT
this project and create employment Exposure Limit Methodology, and a BECI Cover is effective immediately.
for our youth. This should be possible Pricing Methodology are also in place.
because our Government has Trade A seamless integration of the new

www.engineermagazine.co.bw Issue 26 Feb-Mar 2020